Lyn Knight Auctions

2011 Memphis Auction Diamond Bar Collection > Memphis 2011 - Session 2 Part 1

Lot #1000 - Large Size Type Notes > Demand Notes - ($ 45,000.00 - $ 90,000.00)
Fr. 5 $5 1861
Design 1. St. Louis. It is truly a rare opportunity to be able to offer a St. Louis Demand Note as there are only eight in existence that we are aware of and only four have ever appeared at auction. We sold the identical grade note in the Rickey Collection six years ago at $43,700, before prices really escalated. I believe this note was from the Eliasberg Collection in 1998 and later in the Great Lakes Collection at our sale in August 2005. This note is tied for the finest known and none known are better.
Grade: PCGS VF 35

Lot #1001 - Large Size Type Notes > Legal Tender - ($ 5,500.00 - $ 8,500.00)
Fr. 16 $1 1862
Design 4. Small red spiked seal - origination of "In God We Trust". A lovely example of the $1 Legal Tender from 1862. This note has NBNC twice across the bottom and with the serial #764 under the figure at the left. This note has superb color and a broad bottom margin. The top margin is quite nice but probably grades choice due to margin variance. In my estimation, this note has extra value for its grade. Current census indicates 1,480 notes known with one note grading higher.
Grade: PMG Gem UNC 65 EPQ

Lot #1002 - Large Size Type Notes > Legal Tender - ($ 6,000.00 - $ 9,000.00)
Fr. 18 $1 1869
Design 5. Large red seal. This is the 1869 Rainbow series Ace and it's dripping with quality from its boldly printed colors to its paper quality and centering. As is the case with this entire collection, the quality for the grade is most impressive. Current census indicates 1,130 notes known with 2 others at this grade.
Grade: PCGS Very Ch. New 64 PPQ

Lot #1003 - Large Size Type Notes > Legal Tender - ($ 1,600.00 - $ 2,500.00)
Fr. 20 $1 1875
Design 6a. Small red seal with rays. The 1875 Series $1 Legal Tender had many reiterations. This is the Allison-New signature combination with the beautiful pink flourish and seal. This note has tremendous strength of color and originality. The grade of 65 EPQ actually seems quite conservative for the quality. Current census indicates 238 notes known with 1 other at this grade and 1 better.
Grade: PMG Gem UNC 65 EPQ

Lot #1004 - Large Size Type Notes > Legal Tender - ($ 5,000.00 - $ 8,000.00)
Fr. 27 $1 1878
Design 6a. Small red-spiked seal. Superb quality is the key phrase to describe this lovely similar, but somewhat finer quality example of this type, dated 1878, and printed with the Allison-Gilfillan signature combination. Rated Superb 67 PPQ, this note is certainly near the finest possible. Current census indicates 374 notes known with 2 others at this grade and 1 better.
Grade: PCGS Superb Gem New 67 PPQ

Lot #1005 - Large Size Type Notes > Legal Tender - ($ 700.00 - $ 1,200.00)
Fr. 27 $1 1878
Design 6a. Small red-spiked seal. This one would have been the example of this type that was upgraded from the Diamond Bar Collection. A spectacularly well centered example that has been rated Ch. About UNC 58 EPQ. The overall appearance makes the note look like a Gem, although PMG did not think so and I can't see through the holder to properly grade it. Current census indicates 374 notes known with 9 others at this grade.
Grade: PMG Ch. Abt. UNC 58 EPQ

Lot #1006 - Large Size Type Notes > Legal Tender - ($ 750.00 - $ 1,250.00)
Fr. 30 $1 1880
Design 6b. Large brown seal. This popular type is desirable because of its large brown seal and red serial numbers, which are much more available than the blue serial number variety that was issued slightly later. This note seems to be a very nice example for the grade, with excellent margins both face and back, but possibly the slightest hint of rounded corners. Once more with exceptional grade and appearance value with the EPQ designation. Current census indicates 635 notes known with 11 others at this grade.
Grade: PMG Ch. UNC 63 EPQ

Lot #1007 - Large Size Type Notes > Legal Tender - ($ 2,500.00 - $ 4,000.00)
Fr. 31 $1 1880
Design 6c. Large red-spiked seal. This is a very scarce type design in comparison to the later red seals. This lovely note has a large orange seal with spikes, often called a large red seal, and it is the blue serial number variety. This note has exquisite color and nice centering, albeit not completely evenly margined. This note has quite a grading history. PCGS 58 in 2006; 64 in 2000; 50 in 1999. During those years it realized from $1,955 to $3,080. Today's grade seems to make more sense. Only 6 of the 148 notes reported are better than this example.
Grade: PCGS Ch. Abt. New 58

Lot #1008 - Large Size Type Notes > Legal Tender - ($ 7,000.00 - $ 12,000.00)
Fr. 33 $1 1880
Design 6c. Large brown seal. The Fr. 33 is a rare and special note that features the large brown-spiked seal and blue serial numbers. Twenty-three of the 31 known examples appear to be uncirculated. This piece has been graded Gem New 65 PPQ by PCGS. A lovely and fresh example that has excellent color, centering and paper quality. It's quite rare and desirable. Current census indicates just 31 notes known with just 1 other at this grade and 2 better.
Grade: PCGS Gem New 65 PPQ

Lot #1009 - Large Size Type Notes > Legal Tender - ($ 1,750.00 - $ 2,500.00)
Fr. 34 $1 1880
Design 6d. Red scalloped seal. Broad margins and a superior presence creates the desirability for an impressive example of this distinct type. An extraordinary appearance graded Gem New 66 PPQ. Current census indicates 206 notes known with 6 others at this grade and 5 better.
Grade: PCGS Gem New 66 PPQ

Lot #1010 - Large Size Type Notes > Legal Tender - ($ 1,000.00 - $ 1,500.00)
Fr. 34 $1 1880
Design 6d. Red scalloped seal. Back in the early days for me and the type note business (that's the 1970s for those not familiar) this small red seal was available in some quantity from A. Bebee and A. Carter. Now this small red seal with blue serial numbers is more highly sought after and collectible. A fresh, crispy 64 EPQ that is quite desirable. Current census indicates 206 notes known with 7 others at this grade.
Grade: PMG Ch. UNC 64 EPQ

Lot #1011 - Large Size Type Notes > Legal Tender - ($ 1,250.00 - $ 1,750.00)
Fr. 39 $1 1917 #N900A
Design 6e. Small red scalloped seal. Prestige is created by both quality and originality, as well as this low serial #N900A on this late issue of a large size Legal Tender. Of the 6,038 notes currently reported there are just 6 examples of a higher grade.
Grade: PMG Gem UNC 66 EPQ

Lot #1012 - Large Size Type Notes > Legal Tender - ($ 225.00 - $ 350.00)
Fr. 39 $1 1917 #T11110105A
Design 6e. Small red scalloped seal. The overall appearance was the concern for this more common type which has two extremely minor corner bends. It carries an interesting serial #T11110105A. Current census indicates that there are 79 others at this grade and none better.
Grade: PMG Ch. Abt. UNC 58 EPQ

Lot #1013 - Large Size Type Notes > Legal Tender - ($ 1,500.00 - $ 2,500.00)
Fr. 40 $1 1923
Design 7. Small red scalloped seal. This example of the last $1 Legal Tender large size is strictly Gem UNC and graded 66 PPQ by PCGS. The centering, color and originality are outstanding and beautiful. Records indicate 3,335 total known with just 8 better.
Grade: PCGS Gem New 66 PPQ

Lot #1014 - Large Size Type Notes > Legal Tender - ($ 700.00 - $ 1,200.00)
Fr. 40 $1 1923
Design 7. Small red scalloped seal. A lovely example of this popular last Legal Tender issue. This note has the originality and quality of a higher grade, or at least that of an excellent quality note. Current census indicates 3,335 notes known with 97 notes at this grade.
Grade: PMG Ch. UNC 64 EPQ

Lot #1015 - Large Size Type Notes > Legal Tender - ($ 4,500.00 - $ 6,500.00)
Fr. 41 $2 1862
Design 8. Red scalloped seal. The proud portrait of Alexander Hamilton was chosen for this first issue of $2 bills. He was the mastermind of the finances of the early days of our country. This note is only graded Ch. New 63 PPQ because of the roughing of the lower right design to the edge, but it has amazing quality for the grade. A consistent theme of this collection. Current census indicates 693 notes known with 3 others at this grade and 11 better.
Grade: PCGS Ch. New 63 PPQ

Lot #1016 - Large Size Type Notes > Legal Tender - ($ 17,500.00 - $ 25,000.00)
Fr. 42 $2 1869
Design 9. Large red seal. A magnificent example of the 1869 Series is portrayed by this $2 note featuring the Nation's capitol and Thomas Jefferson against the rainbow of colors this type was given. This note has the large red seal and Allison-Spinner signatures. The quality is outstanding with extraordinary color, margins and overall quality. Totally impressive for sure. Current census indicates 268 notes known with 3 others at this grade and 2 better.
Grade: PCGS Gem New 66 PPQ

Lot #1017 - Large Size Type Notes > Legal Tender - ($ 5,000.00 - $ 7,500.00)
Fr. 42 $2 1869
Design 9. Large red-spiked seal. A second Rainbow Deuce that is totally original and beautifully centered, yet only graded Ch. About New 58 EPQ. One corner has a faint ripple that alters the grade of this otherwise Gem note. Great color, centering and paper quality. This example has amazing quality for the grade. Currently there are 268 notes known with 5 others at this grade.
Grade: PMG Ch. Abt. UNC 58 EPQ

Lot #1018 - Large Size Type Notes > Legal Tender - ($ 2,750.00 - $ 4,250.00)
Fr. 43 $2 1874
Design 10a. Small red-spiked seal. The seal and flourish were changed for the 1874 Series creating a substantially different appearing design, yet in reality the changes were mostly the totally new back design. This note has nice centering, great color and it's been graded EPQ for paper. This 1874 Series can prove to be quite elusive while not truly rare. Certainly desirable. Of the 115 notes currently reported there is just 1 other of this grade and 5 better.
Grade: PMG Ch. UNC 64 EPQ

Lot #1019 - Large Size Type Notes > Legal Tender - ($ 3,000.00 - $ 4,000.00)
Fr. 51 $2 1880
Design 10b. Large brown seal. Here we have a spectacular example of one of the more often encountered early Deuces, yet few have this quality. This variety has the large brown spiked seal and red serial numbers. The printing was large but many of the known examples are far inferior to this Gem New 66 PPQ note. This note has excellent centering, bold white paper and strong, vivid inks. Truly special for the type. Current census indicates just 140 notes known with 2 others at this grade and none better.
Grade: PCGS Gem New 66 PPQ

Lot #1020 - Large Size Type Notes > Legal Tender - ($ 27,500.00 - $ 45,000.00)
Fr. 54 $2 1880
Design 10c. Large brown seal. The differences are subtle between the 1880 large brown seal types with the most noticeable being that the blue serial numbers have replaced the somewhat harder to read red ones on the earlier issues. This large brown seal variety was a short issue and its rarity is very high. This example has the appearance of a Gem from my vantage point and the overall beauty and quality is certainly equal to that of all the notes in this collection. It's graded Ch. AU 58 but I'm calling it wonderful and rare. The last higher grade note offered was a PMG 45 at $32,200 in 2008. In 2005 this much nicer example realized $23,000. Current census indicates a mere 20 notes known in all grades.
Grade: PCGS Ch. Abt. New 58

Lot #1021 - Large Size Type Notes > Legal Tender - ($ 2,000.00 - $ 3,000.00)
Fr. 56 $2 1880
Design 10c. Small red scalloped seal. This is the better of the two examples of the small red seal variety with the blue serial numbers offered here. There is no doubt why this amazing example of the type was chosen as it's a premium note that fits this collection. Graded Gem New 66 PPQ and it's easy to see why. Current census indicates 201 notes known with 11 others at this grade and 5 better.
Grade: PCGS Gem New 66 PPQ

Lot #1022 - Large Size Type Notes > Legal Tender - ($ 1,100.00 - $ 1,600.00)
Fr. 56 $2 1880
Design 10c. Small red scalloped seal. This Deuce has the reduced size red seal as well as blue serial numbers but it's not nearly as scarce as the earlier seal color. An excellent choice for the type and quite well centered for the grade, also with EPQ designation. A lovely choice for this type. Current census indicates 201 notes known with 7 others at this grade.
Grade: PMG Ch. UNC 64 EPQ

Lot #1023 - Large Size Type Notes > Legal Tender - ($ 900.00 - $ 1,500.00)
Fr. 57 $2 1917
Design 10d. Small red scalloped seal. Quality through and through seems like the appropriate terminology to describe this beautiful Deuce of the red seal variety. No doubt chosen to replace another beauty and this is better at Gem New 66 PPQ! This is the best one offered in years. Current census indicates 720 notes known with just 3 others at this grade and 3 better.
Grade: PCGS Gem New 66 PPQ

Lot #1024 - Large Size Type Notes > Legal Tender - ($ 300.00 - $ 500.00)
Fr. 57 $2 1917
Design 10d. Small red scalloped seal. No doubt this note was assumed to be UNC when acquired as only the slightest age spots near the top are evident through the holder. It has great coloring and carries the EPQ designation. This type switched back to the red serial numbers. Of the 720 notes currently reported there are 12 others of this grade.
Grade: PMG Ch. Abt. UNC 58 EPQ

Lot #1025 - Large Size Type Notes > Legal Tender - ($ 2,500.00 - $ 4,000.00)
Fr. 61a $5 1862
Design 11. Small red seal. There are many minor varieties of the First Issue of $5 Legal Tender notes but one fact remains consistent, this issue was blessed by big margins. Unfortunately several of the notes were handled less than delicately by the bankers over the years. This note has done a much better than average job in both regards. It has excellent paper quality and pretty darn nice margins, hence it is lovely for the grade. Of the 690 notes reported there are 5 others that share this grade.
Grade: PCGS Ch. New 63 PPQ

Lot #1026 - Large Size Type Notes > Legal Tender - ($ 6,000.00 - $ 9,000.00)
Fr. 64 $5 1869
Design 12. Large red-spiked seal. The Pioneer Family vignette was introduced on the Legal Tender issue of 1869 and was carried through all iterations of $5 Legal Tenders until 1928. Here is a beautiful example with the brilliant rainbow of color that lead to the name of this series. The quality is visible at every sign - paper, centering and coloration. Previously from the Chet Krause Collection. Of the 628 notes reported this one shares this grade with 11 others. Only 1 note grades better.
Grade: PMG Gem UNC 66 EPQ

Lot #1027 - Large Size Type Notes > Legal Tender - ($ 4,500.00 - $ 6,500.00)
Fr. 64 $5 1869
Design 12. Large red seal. It appears that the Chet Krause note replaced this very attractive Rainbow that has been graded Very Ch. New 64 by PCGS. I would be shocked to hear anything other than positive comments about this lovely Rainbow Pioneer family note. Census indicates 628 notes reported with 9 others of this grade.
Grade: PCGS Very Ch. New 64 PPQ

Lot #1028 - Large Size Type Notes > Legal Tender - ($ 1,250.00 - $ 1,750.00)
Fr. 67 $5 1875
Design 13a. Small red-spiked seal. The seal flourish and back design were all changed for this 1875 Series Pioneer Family issue. This is the Series B with signatures of Allison and New. Great color, premium paper quality and the centering is very nice as well. Current census indicates 136 notes known with 4 others at this grade and 9 better.
Grade: PCGS Ch. New 63 PPQ

Lot #1029 - Large Size Type Notes > Legal Tender - ($ 3,500.00 - $ 5,000.00)
Fr. 72 $5 1880
Design 13b. Large brown seal. A large brown seal and red serial numbers separate this gorgeous $5 Legal Tender from its brethren. I'm confident that quality like this, with its exceptional centering and paper quality, is not readily available for this issue. This note has the Bruce-Wyman signature combination and it deserves all of accolades possible for quality. Census indicates just 147 notes known with this note being tied for finest known.
Grade: PCGS Gem New 66 PPQ

Lot #1030 - Large Size Type Notes > Legal Tender - ($ 1,100.00 - $ 1,600.00)
Fr. 73 $5 1880
Design 13c. Large red seal and blue serial numbers. A quantity of this seal type was saved for nearly 100 years and then slowly released to the market. This is called a red seal but it really isn't red and it has no spikes as others do. The note is graded Ch. UNC 64 EPQ which seems conservative from my vantage point, but I must look through the holder. I do know that the new owner should be thrilled with the quality. Current census indicates 214 notes known with 17 others at this grade and none better.
Grade: PMG Ch. UNC 64 EPQ

Lot #1031 - Large Size Type Notes > Legal Tender - ($ 5,000.00 - $ 7,500.00)
Fr. 76 $5 1880
Design 13c. Large red-spiked seal. This Pioneer Family variety has the large red (more orange) spiked seal and blue serial numbers. It was printed in much smaller quantities as others and it's tough in the premium UNC quality. Wonderful color, nice centering and PPQ designation - all the good stuff for notes on this one. Definitely rare and desirable. Of the 76 notes reported in the census this note is the only one graded 64 PPQ and with only 2 notes graded higher.
Grade: PCGS Very Ch. New 64 PPQ

Lot #1032 - Large Size Type Notes > Legal Tender - ($ 3,000.00 - $ 4,500.00)
Fr. 76 $5 1880
Design 13c. Large red-spiked seal and blue serial numbers Woodchopper note. This note must have been the replaced example since there is a finer example listed here also. This beauty looks lovely to me, and I can't see a fold, but I'm looking through a holder. Of the 76 notes reported and the 10 graded, just 3 are UNCs.
Grade: PCGS Ch. Abt. New 58 PPQ

Lot #1033 - Large Size Type Notes > Legal Tender - ($ 3,500.00 - $ 5,000.00)
Fr. 77 $5 1880
Design 13c. Large brown seal, blue serial numbers and the Rosecrans-Huston signature combination. A scarce, if not rare example of this variety of the Pioneer Family issue. The overall quality is lovely with excellent centering, spectacular color and an overall appearance that is amazing. The note does have a center fold. Ex: Stack's Norweb Collection, #3232, November 2006. Current census indicates 81 notes known with 2 others at this grade and 3 better.
Grade: PMG Abt. UNC 55

Lot #1034 - Large Size Type Notes > Legal Tender - ($ 1,400.00 - $ 1,800.00)
Fr. 79 $5 1880
Design 13c. Small red scalloped seal and blue serial numbers. The seal has shrunk and changed color and style to small and red. This example has been graded a Gem New 65 PPQ and it's easy to see why as with the color and centering it deserves the grade. Rosecrans-Nebeker signature combination. Of the 104 notes currently recorded there are 2 others in this grade and 5 better.
Grade: PCGS Gem New 65 PPQ

Lot #1035 - Large Size Type Notes > Legal Tender - ($ 1,000.00 - $ 1,500.00)
Fr. 83 $5 1907
Design 13d. Small red scalloped seal. This is the earliest signature combination, Vernon and Treat, with the small red seal and red serial numbers. Excellent color and paper quality. Again, a premium example for the grade. Current census indicates 200 notes known with 3 others at this grade and 7 better.
Grade: PMG Ch. UNC 64 EPQ

Lot #1036 - Large Size Type Notes > Legal Tender - ($ 1,000.00 - $ 1,500.00)
Fr. 88 $5 1907
Design 13d. Small red scalloped seal and red serial numbers. Centering, color and originality like this provides a premium quality Pioneer Family note for the grade. The printing quality and paper are lovely as well. Teehee- Burke signature combination. Current census indicates 831 notes known with 1 other at this grade and 2 better.
Grade: PMG Ch. UNC 64 EPQ

Lot #1037 - Large Size Type Notes > Legal Tender - ($ 4,500.00 - $ 7,500.00)
Fr. 93 $10 1862
Design 14. Small red-spiked seal. Abraham Lincoln's portrait was the chosen vignette for this important early Legal Tender. This example is the first type printed with the early March 10, 1862 date and the first obligation on the back. Lincoln must have personally approved the use of his likeness on this note. This example is grade Ch. About UNC 58 EPQ and it has all the necessary ingredients for the grade - centering, color, originality and paper quality. One more exceptional note for the grade. Current census indicates 224 notes known with 2 others at this grade and 5 better.
Grade: PMG Ch. Abt. UNC 58 EPQ

Lot #1038 - Large Size Type Notes > Legal Tender - ($ 6,000.00 - $ 9,000.00)
Fr. 95b $10 1863
Design 14a. Small red-spiked seal and two red serial numbers. This is the first type of $10 Legal Tender with the March 10, 1863 date and the second obligation on the back. A lovely, high quality note with excellent centering and amazing paper quality, but graded New 62 PPQ because of a tiny corner tip fold on this otherwise Gem note. Great quality for the money. Do you see a theme with this collection? Of the 167 notes currently reported this note is the finest known.
Grade: PCGS New 62 PPQ

Lot #1039 - Large Size Type Notes > Legal Tender - ($ 6,500.00 - $ 9,500.00)
Fr. 96 $10 1869
Design 15. Large red seal. This series is affectionately called the "Jackass" series because of the look of the eagle in the center when observed quickly. The reality is Daniel Webster is at the left and Pochohantas is being presented to England's Royal Court at the right. This is the Rainbow issue with its vivid colors and beautiful printing. It's enhanced by premium paper quality and excellent centering. Once again fantastic quality for the grade. This has to be among the finest of the grade. Of the 473 notes currently reported this note is 1 of 16 in this grade.
Grade: PCGS Very Ch. New 64 PPQ

Lot #1040 - Large Size Type Notes > Legal Tender - ($ 7,000.00 - $ 12,000.00)
Fr. 99 $10 1878
Design 16a. Small red-spiked seal. After the Rainbow series the seal, flourish and back design were all changed and this is the $10 example of that product. This type is exceedingly rare in true Gem. This note is a well centered Ch. UNC 64 and it's quite unusual to be found better than this note which has slightly toned paper (ever so delicately toned), well centered and attractive. Current census indicates 78 notes known with 7 others at this grade and 5 better.
Grade: PMG Ch. UNC 64 EPQ

Lot #1041 - Large Size Type Notes > Legal Tender - ($ 5,000.00 - $ 7,500.00)
Fr. 102 $10 1880
Design 16b. Large brown-spiked seal. A beautiful example of this 1880 series Jackass note that has a large brown spiked seal and red serial numbers. This series bears the signature combination of Bruce and Wyman. Here is a note that is something special with extraordinary paper quality, centering, and print quality. A special note. Current census indicates 116 notes known with 1 other at this grade and one better.
Grade: PCGS Gem New 66 PPQ

Lot #1042 - Large Size Type Notes > Legal Tender - ($ 2,250.00 - $ 3,250.00)
Fr. 103 $10 1880
Design 16c. Large red seal. The seal color and serial numbers have changed for this series that also carries the Bruce-Wyman signature combination. a note that has excellent quality for the grade, along with wonderful square corners and great color. The theme I keep repeating here is it's spectacular for the grade. Current census indicates 104 notes known with just 2 other at this grade.
Grade: PCGS Very Ch. New 64 PPQ

Lot #1043 - Large Size Type Notes > Legal Tender - ($ 3,500.00 - $ 5,000.00)
Fr. 106 $10 1880
Design 16c. Large red spiked seal. Bear with me while I repeat myself, this is a beautiful note for the grade. It's at the high end and special. The note has the Rosecrans-Hyatt signature combination along with a large red spiked seal and blue serial numbers. The quality is outstanding and speaks for itself. Of the 113 notes currently reported there is just 1 other of this grade and 3 better.
Grade: PCGS Gem New 65 PPQ

Lot #1044 - Large Size Type Notes > Legal Tender - ($ 2,500.00 - $ 3,500.00)
Fr. 108 $10 1880
Design 16c. The seal changed to large, brown and spiked, and the serial numbers to blue. For once a few of this type were saved, but not that many. I had several cut sheets from Wade and BeBee but few since. This example has plenty of margin although not all even. Great color and identified as EPQ. This note offers no disappointments. Current census indicates 107 notes known with this being the only one graded 64 EPQ. There are 9 reported in a higher grade.
Grade: PMG Ch. UNC 64 EPQ

Lot #1045 - Large Size Type Notes > Legal Tender - ($ 2,000.00 - $ 3,000.00)
Fr. 113 $10 1880
Design 16c. Small red scalloped seal and blue serial numbers. This note represents the last of the varieties of the Daniel Webster Jackass series. Once again a note that appears to be all you could ask for and more for its grade with excellent color, lovely centering and paper quality. Exceptional value for the grade! Of the 350 notes currently reported this note is 1 of 5 in this grade.
Grade: PMG Ch. UNC 64 EPQ

Lot #1046 - Large Size Type Notes > Legal Tender - ($ 7,500.00 - $ 10,000.00)
Fr. 122 $10 1901
Design 17. Small red scalloped seal. Although all Buffalo notes are the same basic design type, some of the earlier signature combinations seem to be somewhat different. It's probably the paper used. The paper on the later issues is bright and white creating a lovely background for the red and black printing. This is the one I prefer. Current census indicates 2,042 notes known with 21 others sharing this grade.
Grade: PMG Gem UNC 65 EPQ

Lot #1047 - Large Size Type Notes > Legal Tender - ($ 12,500.00 - $ 20,000.00)
Fr. 123 $10 1923
Design 18. Small red scalloped seal. Andrew Jackson is portrayed on the face of what is now referred to as the "Poker Chip" note based on the design work used on the tens on the back. This example is from the last pack printed (595901-596000), and apparently all were saved. We have sold both the first and the last note. All the quality you could ask for with this grade and more. It's well centered, EPQ and has bright, beautiful color as one would expect. Of the 421 notes currently reported this is 1 of just 3 in this grade.
Grade: PMG Ch. UNC 64 EPQ

Lot #1048 - Large Size Type Notes > Legal Tender - ($ 17,500.00 - $ 25,000.00)
Fr. 126b $20 1863
Design 19. Small red spiked seal and two serial numbers. PCGS notes repaired edge tears top right. A wonderful classical design of Liberty holding a sword and shield. This was also the design chosen for the earlier Demand Note $20. This beautifully designed note has all of the traits used in this collections formation. The centering is excellent as is the paper quality, except where it was restored along the upper right, hence the Apparent grade. A hoard of both $10 and $20 1862s were dispersed before I was in the business and many have, or had the same flaw. The fact is that they are beautiful and worthy of a special collection. Remember that careful inspection of all $10s and $20s of this issue is necessary. The color and centering of this example are excellent. Current census indicates 152 notes known with 1 other at this grade and 4 better.
Grade: PCGS Very Ch. New 64 PPQ

Lot #1049 - Large Size Type Notes > Legal Tender - ($ 40,000.00 - $ 60,000.00)
Fr. 127 $20 1869
Design 20. Large red spiked seal. Alexander Hamilton looks stern in his portrait for the rare and desirable 1869 $20 Legal Tender, otherwise referred to as the Rainbow note. This note is very scarce in all grades and even better with quality like we are offering here. I believe this note has fabulous color and excellent centering. I believe the colors to be bold and bright, and it's been identified to have exceptional paper quality. Among the finest known of the 179 notes currently recorded with 3 graded better and 5 others graded the same by PMG.
Grade: PMG Gem UNC 66 EPQ

Lot #1050 - Large Size Type Notes > Legal Tender - ($ 3,250.00 - $ 4,750.00)
Fr. 129 $20 1878
Design 21a. Small red seal with rays. There were a number of changes made from the 1869 to 1875 issue, including the removal of the rainbow and the smaller seal and the replacement of the double XX on the face. Here we have a premium example of this type. It's totally fresh and original with excellent color. This note is not a rare type but it is a desirable one for those working on a $20 collection. Most that I've seen are from the same packs that came from a Texas bank some 50 years ago. Current census indicates 184 notes known with 5 others at this grade.
Grade: PCGS Very Ch. New 64 PPQ

Lot #1051 - Large Size Type Notes > Legal Tender - ($ 5,000.00 - $ 9,000.00)
Fr. 137 $20 1880
Design 21b. Large red spiked seal. This designs for the 1880 Series remained quite similar until the series ended, changing only the seals and serial numbers. This note has a large seal that has always been called red but appears more orange to me. The seal is spiked and the serial numbers are blue. A lovely Gem New 65 PPQ with exceptional color and square corners. It's a beauty. Of the 97 notes currently reported this note is 1 of the 3 finest known.
Grade: PCGS Gem New 65 PPQ

Lot #1052 - Large Size Type Notes > Legal Tender - ($ 4,000.00 - $ 7,000.00)
Fr. 138 $20 1880
Design 21b. Large brown spiked seal. The seal has been changed to brown while the blue serial numbers remain. This variety is quite scarce and seldom seen in better condition. This example has good color and large margins. Very nice visually and not a note that is easy to improve. Just 55 notes are currently reported with note being tied for second finest known. Two other examples are graded higher.
Grade: PCGS Ch. New 63 PPQ

Lot #1053 - Large Size Type Notes > Legal Tender - ($ 4,250.00 - $ 6,500.00)
Fr. 140 $20 1880
Design 21b. Small red scalloped seal. The seal got smaller and turned red but the serial numbers are still blue. This is a very attractive example of this design. Excellent centering and lovely, bright white paper to go with the beautiful red and black inking. For some reason this note was not designated PPQ, perhaps it was short on embossing. Current census indicates just 86 notes known with 1 other at this grade and 2 better.
Grade: PCGS Gem New 65 PPQ

Lot #1054 - Large Size Type Notes > Legal Tender - ($ 1,400.00 - $ 1,800.00)
Fr. 147 $20 1880
Design 21c. Small red scalloped seal. This is the last of the $20 Legal Tender notes issued and they made it with a small red seal and red serial numbers. There are near boardwalk margins and beautiful colors. I can't quite see what makes this note a "53" because as I've said from the start, it has a great look for the grade. Current census indicates 734 notes known and of the 111 graded there are 5 UNCs.
Grade: PCGS Abt. New 53

Lot #1055 - Large Size Type Notes > Legal Tender - ($ 150,000.00 - $ 250,000.00)
Fr. 150 $50 1863
Design 22. Small red spiked seal. This is the description used when this note was discovered and offered by CAA/Heritage, "A spectacular, newly discovered piece! This note has never been offered to the collecting public. Prior to its appearance, only eight examples of this Friedberg number had been known. A single uncirculated note is listed as being in the ANA museum and there are two About New notes known, as well. The two previously mentioned About New notes are serial #13315 and #13316. This new note is #13314, and it clearly traces its original source to the run of three. The other five notes in the census are four low-grade pieces and a VF from the Oat Bin Hoard. This note is crackling fresh, with beautiful margins, 100% fully bright colors, utterly untouched surfaces and no defects of any kind save for some very light handling crinkles and a single immaterial vertical fold to the left of center. This beautiful piece should attract considerable bidder attention. It will likely represent one of the very finest type notes in the collection of its new owner." It might be a likely assumption that the two notes graded UNC, which are just within a few digits of the other high grade notes known, may well be very similar in quality to the four we are aware of. The fact is the quality of this note is spectacular and it, no doubt, will get and deserve solid interest. There are just 10 notes currently reported with this note being the finest known.
Grade: PCGS Abt. New 50 PPQ

Lot #1056 - Large Size Type Notes > Legal Tender - ($ 40,000.00 - $ 70,000.00)
Fr. 151 $50 1869
Design 23. Large red spiked seal. Wow! What a find! This $50 1869 Rainbow is new to the census and it is what I call a peach in every sense of the word (as I use it). When I got this $50 the original purchase price tag of $125 was included (it is included with the lot but it is small and could get misplaced during lot viewing). I had the privilege of handling several Rainbow fifties in the same grade from the First National Bank of St. Joseph, Missouri in 1986. This note is equal or better to the best of those. This type is one of the most desirable of all printed by our government because it portrays art and design at its best. Who wouldn't want a jewel like this? In today's market this should command the strongest premium. The color is great, the centering totally awesome and the paper quality is better than anyone could expect for the grade. Currently around 60 have been reported, including at least a dozen in government collections and museums.
Grade: PCGS VF 35

Lot #1057 - Large Size Type Notes > Legal Tender - ($ 20,000.00 - $ 30,000.00)
Fr. 152 $50 1874
Design 24a. Small red spiked seal. The portrait of Benjamin Franklin is on the left, the female image of E Pluribus Unum at the right and the bold, double "Ls" and seal in the center. The census now indicates 48 known notes while in 1998 only 28 were recorded. The last offering of this exact note was in March 2002 by Bowers & Merena, where it was graded AU. No question it's a lovely note and no wonder it looks like a very high quality note for the grade. The double "Ls" are bright and vivid, as is the seal, the centering is amazing, the colors are outstanding and the paper quality is EPQ. The overall quality is impeccable. On two occasions UNCs have exceeded $100,000. This note has folds but looks as good. Of the 48 notes currently reported this note is the only one graded XF 45 EPQ. There are four notes graded higher.
Grade: PMG Ch. XF 45 EPQ

Lot #1058 - Large Size Type Notes > Legal Tender - ($ 40,000.00 - $ 70,000.00)
Fr. 159 $50 1880
Design 24b. Large red spiked seal. From the Levitan Collection, described as follows: "This is the finest known by a mile or so. Only a single note, of the dozens reported, are even VF. Two of these series notes are permanently impounded in institutions. Frank was able to acquire this note from me after I purchased it from the Amon Carter Estate in 1984. There are broad margins all the way around, both front and back. The bold printing contrast makes a positive statement as well as the slightly subdued paper, even though it does not retain its original embossing. Pedigree: Amon Carter Collection, Lyn F. Knight, Inc., 1/84. 160,000 printed." I would say the pedigree and quality of this note are as good as it gets. It's listed as CU but PMG calls it a "55". Obviously a very special note that we previously sold in 2000 as AU at $40,700. Just 14 notes are currently reported with this being the finest known.
Grade: PMG Abt. UNC 55

Lot #1059 - Large Size Type Notes > Legal Tender - ($ 35,000.00 - $ 50,000.00)
Fr. 161 $50 1880
Design 24b. Large brown seal. The note is broadly margined and is as pretty as a picture. This classic design, with its large brown seal, blue serial numbers and striking vignette of America, is one of our favorite pieces of currency. Fewer than sixty pieces are known of this number in all grades combined, including those in museum and government hands. This note comes from the run that has supplied most all of the high-grade examples of this beautiful type. A number of pieces have been on the market in recent years, realizing in the $15,000-$43,000 range, depending in part on the note's quality, and in part on the number of bidders. This one certainly appears to have the quality. The number of bidders will be decided in Memphis. Certainly beautiful and among the finest known. The most current census indicates 63 notes reported with 7 others in this grade and 3 better.
Grade: PMG Gem UNC 66 EPQ

Lot #1060 - Large Size Type Notes > Legal Tender - ($ 20,000.00 - $ 30,000.00)
Fr. 164 $50 1880
Design 24b. Small red scalloped seal. The large brown seal is very common in high grade but the small red seal, while more common in lower grade, is anything but common in this grade. I cannot find any other note graded UNC by PCGS or PMG. This note could easily be the runaway of the night. Fr. 164 is represented in the Track & Price census by 200 notes, very few of which are at the upper end of the grade scale. In fact, both grading services together have graded only a total of three uncirculated Fr. 164s. Both PMG and PCGS have each graded a "63", and this "64" stands at the top of the census. It is very likely to remain there, as this is a note that has stymied collectors of Gems for decades. Estimating the note is a challenge as there is no auction precedent in this grade range. The last time this note appeared at auction was in 1991 where, as a raw note, it was also graded Choice. At that time it realized $3,960, which was a very high price for its day. As the finest known example of this very popular number, we believe this note will certainly reach and quite possibly exceed the estimate.
Grade: PMG Ch. UNC 64 EPQ

Lot #1061 - Large Size Type Notes > Legal Tender - ($ 5,000.00 - $ 8,000.00)
Fr. 164 $50 1880
Design 24b. Small red scalloped seal. Off the market for over 40 years and originally sold as CU then, this note displays very clean surfaces. Just a hair under 200 notes are known with less than 15% of those falling into the upper grades. A tight bottom margin is offset by three other large and even margins producing a most attractive piece. Currently there are 206 notes reported with this being 1 of 5 graded VF 35.
Grade: PMG Ch. VF 35

Lot #1062 - Large Size Type Notes > Legal Tender - ($ 150,000.00 - $ 200,000.00)
Fr. 168 $100 1869
Design 26. Large red seal. Shortly after the assissination of President Lincoln and the end of the Civil War the design was changed for all Legal Tender issues. The 'new' note was one that pictures a resolve portrait of Lincoln on the left and an allegorical image representing Architecture at the right. I have written about this note before in the Levitan sale and again in 2006 but now it has been third-party graded by PCGS. Our description from the Levitan sale in 1998 read, "This magnificent Rainbow $100 is a classic rarity. It is in spectacular condition with broad margins all the way around, both front and back. The excellent paper quality has only minute handling and the broad, bold colors make this note one of the most outstanding ever offered. This design has images that relate to the Civil War, which ended a few years earlier, the Anthony Berger portrait of the martyred President Lincoln and the engraving of Reconstruction on the right. A small head of Liberty is found near the lower border. There have been 22 serial numbers recorded with seven likely off the market for generations. There are apparently two other CU examples in private hands and a couple of AU examples that could be very close in grade. This note was the Donlon illustration and Frank acquired it from him in 1971. Pedigree: Wm. P. Donlon". A later description in the Rickey sale added, "Today a grading service might agree with my grade from that time, or they might feel a light corner tip fold has to be called AU. Personally, Frank acquired it as uncirculated and we sold it that way, and I am again trying to make this broadly margined, incredibly fresh, original $100 Rainbow note as exciting as it appears to me. The paper quality is very nice but it does have very faint handling. Truly one of the great currency treasures. This note is #20 on the 100 greatest list.
Grade: PCGS XF 45

Lot #1063 - Large Size Type Notes > Legal Tender - ($ 30,000.00 - $ 40,000.00)
Fr. 173 $100 1880
Design 27b. Large brown seal. This is the very rare Bruce-Wyman signature combination with the large brown seal and blue serial number. There are currently nine notes in the census and six have been sold since 1997. This example, equal to the finest known, was last offered by CAA in 1998 where it realized $7,700, in the good old days. A Fine 12 brought $30,417 in March 2007 and a Fine 15 realized $25,300 in the fall of 2007. None have been offered since that time. I would certainly call this VF and it's quite rare with no offerings since 2007. This rare note is nicely centered with great color and paper quality. Then note has been labeled Apparent because of restoration on the back. No doubt it's there but it's not readily visible to the naked eye and I'm not sure where it's located.
Grade: PCGS VF 30 Apparent

Lot #1064 - Large Size Type Notes > Legal Tender - ($ 40,000.00 - $ 60,000.00)
Fr. 174 $100 1880
Design 27b. Large red seal. This beautiful large plain red seal was graded CU when sold by Barney Bluestone in the Grinnell Sale (1944), later it was a part of the James A. Stack, Herman Halpern and Andrew Shiva Collections in rapid succession. Careful inspection of the quality of this note forces one to a middle ground. I would call this note Ch. AU, but I can find a virtually undetectable fold and an expertly closed pinhole, yet other than slight handling I see no flaws. Only the Amon Carter Collection had a finer example. From the Great Lakes Collection. A beautiful note that is the second finest known. A lovely example of the 17 notes currently reported. As I continue to say - this is a fantastic note for the grade.
Grade: PMG XF 40

Lot #1065 - Large Size Type Notes > Legal Tender - ($ 60,000.00 - $ 90,000.00)
Fr. 177 $100 1880
Design 27b. Large red spiked seal. A gorgeous $100 Red Seal that may well be the finest of the signature and seal issue but there are several quite similar, so without hands-on comparision I'll say this is one of the top notes and virtually impossible to improve upon at this time. This note represents excellent value. There are only 20 Rosecrans-Huston $100 1880 Legal Tenders currently reported, with this being the finest known. The pedigree stretches back to Wayne Raymond, James A. Stack and Andrew Shiva, among other stops. The color is great, the centering and margins wonderful and the overall paper quality is excellent, only the centerfold is readily visible. It is listed as VF/XF in the census, which follows the ultra conservative pattern used for grading the James A. Stack Collection. I am not criticizing or arguing, just stating an opinion that I have had since 1990 that has been reconfirmed over the years. I can find plenty of examples where I have done exactly the same thing. That collection has always been one of my personal favorites, yet I did not buy a single lot (reluctantly) at the sale! From the Great Lakes Collection.
Grade: PMG Ch. XF 45

Lot #1066 - Large Size Type Notes > Legal Tender - ($ 32,500.00 - $ 45,000.00)
Fr. 178 $100 1880
Design 27b. Large brown seal. A very scarce Rosecrans-Huston $100 1880 Legal Tender that is one of only 10 in private hands. This is an excellent, evenly circulated example of this type that is unmolested and problem-free. If you're looking for a nice, evenly circulated note for this type, look no further. The history of this scarce signature combination can be traced back to my sale of the J.T. Wright Collection in the mid-1970s. The pattern continues with this note being exceptional for the grade. There are very few offerings to acquire this Friedberg number. Of the 15 notes currently reported there is just one in a higher grade.
Grade: PCGS VF 20

Lot #1067 - Large Size Type Notes > Legal Tender - ($ 70,000.00 - $ 120,000.00)
Fr. 180 $100 1880
Design 27b. Small red scalloped seal. The Bruce-Roberts Treasury signature combination is a rarity. The printing for this $100 was miniscule in comparison to its counterparts. This is one of only four known examples in private collections, while three others are institutionalized. This note is totally original and has not been on the market before we acquired this collection and in 1975 it was offered by Superior. No doubt the buyer was Bob Denerson, an early 1970s era Los Angeles collector who regularly competed with Jim Thompson to build the best collection by Friedberg. The collection was sold to a Midwestern dealer (not me) in early 1980. Only one of the seven known examples is graded higher than this offering and that note has never been publicly sold. This rarity deserves a very strong bid by interested collectors.
Grade: PCGS VF 35

Lot #1068 - Large Size Type Notes > Legal Tender - ($ 40,000.00 - $ 60,000.00)
Fr. 181 $100 1880
Design 27b. Small red scalloped seal. Currently there are 45 notes reported of this signature combination and there has never been an offering of what I would call a true UNC. No UNCs have been graded either. This is one of the finest known because there are only two CUs listed in the census, and four or so are listed as AU. This lovely AU has been graded AU and CU over the years, and there is a very good chance that real UNCs do not exist. If they do, there is no doubt that the prices will start at $100,000 because the few earlier $100 1880 Legal Tenders are way over that level. Here is a lovely example of this desirable type. From the Great Lakes Collection.
Grade: PCGS Abt. New 50 PPQ

Lot #1069 - Large Size Type Notes > Legal Tender - ($ 17,500.00 - $ 25,000.00)
Fr. 181 $100 1880
Design 27b. Small red scalloped seal. This handsome $100 Legal has been off the public market for more than a quarter of a century, having last appeared in a 1975 Kagin sale. It's a boldly colored piece with broad margins, decent paper surfaces and very nice overall eye appeal. We can remember having sales 10 or so years ago with a half-dozen or more 1880 $100s, but that "hanging supply" has long since disappeared into the strong hands of serious collectors, and appearances of this type are now few and far between. No doubt this note will be in high demand as higher grades are virtually unobtainable.
Grade: PMG VF 30

Lot #1070 - Large Size Type Notes > Legal Tender - ($ 175,000.00 - $ 275,000.00)
Fr. 187j $1,000 1880
Design 32. Small red scalloped seal. In March 2007 a VF30 realized $258,750, which was the last sale of this rarity. There are just 13 serial numbers reported and none are graded higher than this example. None of the three higher listed grades have been TPG and old-time grading often varied a great deal from reality, often because it really was not important. In our old description that was called AU, but now it's not. Certainly as rare, desirable and important as any note offered in this collection. It remains my belief that probably only one of the purported higher grades is better. Maybe I'm wrong as I haven't seen them and my thoughts are based on past experience only. I know I would love to see a better example as it would be a very exciting note. In the meantime, this note remains the finer of the TPG examples. Truly a beautiful note and consistent with my prior statement, "Excellent note for the grade." The note brought $99,000 in CAAs September 2000 sale, and was offered by Jay Parrino in February 2002 at $150,000. Look this note over closely as it's a beauty.
Grade: PCGS XF 40

Lot #1071 - Large Size Type Notes > Silver Certificates - ($ 2,500.00 - $ 3,500.00)
Fr. 215 $1 1886
Design 59. Small red seal. The Martha Washington series of $1 Silver Certificates offers the opportunity to build a lovely collection of desirable notes without the problem of major stumbling blocks. This is the earliest design with the small red seal and blue serial numbers. I think this note has exceptional quality and centering with bold colors and exceptional paper quality for the grade. This note is among the higher graded of the 645 notes known.
Grade: PMG Ch. UNC 64 EPQ

Lot #1072 - Large Size Type Notes > Silver Certificates - ($ 2,750.00 - $ 3,750.00)
Fr. 218 $1 1886
Design 59. Large red spiked seal. Martha has changed her appearance with only a large red (orange) spiked seal. The serial numbers are still the same and so is the back. Brilliant color and big beautiful margins enhance this boldly printed 1886 $1 Silver Certificate. Only 2 of the 339 notes known are graded higher.
Grade: PMG Gem UNC 65 EPQ

Lot #1073 - Large Size Type Notes > Silver Certificates - ($ 2,750.00 - $ 3,750.00)
Fr. 219 $1 1886
Design 59. Large brown spiked seal. The signatures are the same as the Fr. 218 but the seal has changed to brown. This Martha is virtually a perfect match for the other spiked seal listed here. I think the quality of this brown seal is fantastic. The colors are great, the centering is lovely and the overall appearance is beautiful. One of five graded Gem UNC 65 EPQ.
Grade: PMG Gem UNC 65 EPQ

Lot #1074 - Large Size Type Notes > Silver Certificates - ($ 3,000.00 - $ 4,000.00)
Fr. 221 $1 1886
Design 59. Small red scalloped seal. This is a second example of this scarce Martha. The note has been graded apparent because of a mounting remnant on the face in the upper design work (it's tough to see). The centering is excellent, as are the paper quality and colors. Current census shows 190 notes known, of which this and 2 other notes are of this grade.
Grade: PCGS Very Ch. New 64 PPQ

Lot #1075 - Large Size Type Notes > Silver Certificates - ($ 3,250.00 - $ 4,500.00)
Fr. 221 $1 1886
Design 59. Small red scalloped seal. The Rosecrans-Nebeker small red seal has long been considered the key to this set. This example is absolutely lovely, although only graded 64 EPQ. The paper is perfectly white, the centering is wonderful and the grade indicates EPQ. Current census shows 190 notes known, of which this is the only one graded as such; and just 2 are graded better.
Grade: PMG Ch. UNC 64 EPQ

Lot #1076 - Large Size Type Notes > Silver Certificates - ($ 2,000.00 - $ 3,000.00)
Fr. 223 $1 1891
Design 60. Small red scalloped seal. The face is the same as design 59 but the back design is completely changed to an open back design. These were printed in quite large numbers and some pristine examples were saved. This note is one of the pristine examples with beautiful white paper and bold red and black printing. Great centering and premium paper quality. There are currently 1,291 notes known with this being among the higher graded ones.
Grade: PCGS Gem New 65 PPQ

Lot #1077 - Large Size Type Notes > Silver Certificates - ($ 1,000.00 - $ 1,500.00)
Fr. 223 $1 1891
Design 60. Small red scalloped seal. This example was replaced by the 65 PPQ listed here so as you can imagine it's a lovely note. Any imperfections are hard to find through the holder. This note has excellent color, centering and PPQ paper. Difficult to find better regardless of the grade. Of the 1,291 notes known just 12 are graded as this one.
Grade: PCGS Ch. Abt. New 58 PPQ

Lot #1078 - Large Size Type Notes > Silver Certificates - ($ 3,500.00 - $ 5,000.00)
Fr. 224 $1 1896
Design 61. Small red spiked seal. The $1 Educational, History Instructing Youth, is absolutely one of our greatest currency designs. The quality of this image is truly amazing with wonderful square corners, great centering and lovely bright paper (EPQ). A high grade and desirable example of a great type. There are 3,826 notes known of this type and this note ranks within the 20 highest grades.
Grade: PMG Gem UNC 66 EPQ

Lot #1079 - Large Size Type Notes > Silver Certificates - ($ 2,500.00 - $ 3,500.00)
Fr. 224 $1 1896
Design 61. Small red spiked seal. A lovely $1 Educational that offers all of the beauty of the design without the expense of a slightly better example. This fresh beauty has premium paper quality, nice centering and it's PPQ. A large number of these notes are known (3,826).
Grade: PCGS Very Ch. New 64 PPQ

Lot #1080 - Large Size Type Notes > Silver Certificates - ($ 750.00 - $ 1,000.00)
Fr. 226 $1 1899
Design 62. Blue scalloped seal. This is the earliest Black Eagle with the series above the right serial number. A lovely Gem 65 EPQ with the Lyons-Robert signatures and the earliest serial number design. This note ranks within the higher grades of the 548 currently known.
Grade: PMG Gem UNC 65 EPQ

Lot #1081 - Large Size Type Notes > Silver Certificates - ($ 750.00 - $ 1,000.00)
Fr. 229 $1 1899
Design 62. Blue date below serial number. A Gem quality Black Eagle with all the qualities including excellent paper quality, great color and centering - it has it all. Currently there are 825 notes known with 77 in this grade or higher.
Grade: PMG Gem UNC 65 EPQ

Lot #1082 - Large Size Type Notes > Silver Certificates - ($ 900.00 - $ 1,500.00)
Fr. 233 $1 1899
Design 62. Blue date at right. This is a quality $1 Black Eagle and it's one of the nation's most popular designs. Graded Gem UNC 66 EPQ, this example rates high on the quality scale with great color, centering and originality. This note is among the higher grades of the 5,676 notes currently known.
Grade: PMG Gem UNC 66 EPQ

Lot #1083 - Large Size Type Notes > Silver Certificates - ($ 25,000.00 - $ 35,000.00)
Fr. 233 $1 1899 #U1U
Design 62. Blue scalloped seal. A majestic example of a Black Eagle with the flag and capitol in the background. The scalloped seal is at the right and the number "1" at the left, both in blue. The serial #U1U is wonderfully proportioned at either side of the eagle. The number "1" is shown no less than 16 times on the face and 8 times on the back. The quality of this note is quite lovely with excellent paper quality, boldly printed blues, blacks and greens and well centered.
Grade: PCGS Gem New 65

Lot #1084 - Large Size Type Notes > Silver Certificates - ($ 500.00 - $ 750.00)
Fr. 237 $1 1923
Design 63. A gorgeous example of the last design type of large size Silver Certificates. This is the most common design. The quality of this note is uncompromised. Just two notes are graded higher in the current census of known notes.
Grade: PMG Superb Gem UNC 67 EPQ

Lot #1085 - Large Size Type Notes > Silver Certificates - ($ 100.00 - $ 150.00)
Fr. 237 $1 1923
Design 63. A broad margined example of this common large size Silver Certificate. Certainly a quality note for the grade.
Grade: PMG Ch. UNC 64 EPQ

Lot #1086 - Large Size Type Notes > Silver Certificates - ($ 2,750.00 - $ 3,750.00)
Fr. 241 $2 1886
Design 64. Small red seal. The 1886 $2 Silver Certificates have the Hancock portrait at the left. The earliest seal variety is shown here with the small red seal and Rosecrans-Hyatt signature combination. This is a fresh, lovely, wonderful example for the grade. A great looking piece of paper. Of the 124 notes currently known, this note is among the top 15 graded.
Grade: PMG Ch. UNC 64 EPQ

Lot #1087 - Large Size Type Notes > Silver Certificates - ($ 4,500.00 - $ 6,000.00)
Fr. 242 $2 1886
Design 64. Large red spiked seal. I'm not quite sure why the seal was changed so quickly but before Rosecrans and Hyatt left office the seal changed to the large red spiked design (which is really orange). This example is very special in terms of quality with excellent centering and fresh, subdued color. This note is one of the top 35 notes graded in the current census of notes known.
Grade: PMG Gem UNC 66 EPQ

Lot #1088 - Large Size Type Notes > Silver Certificates - ($ 4,250.00 - $ 5,750.00)
Fr. 244 $2 1886
Design 64. Large brown spiked seal. This is the third and final seal color for this 1886 issue. It features the large brown spiked seal and Rosecrans-Huston signatures. This type generally has excellent margins and this note has even better broad margins along with the great color and exceptional paper quality. It has the potential for an upgrade piece. I'd say that it's at least excellent for the grade. One of 3 in this grade with just 3 graded better of the 170 notes currently known.
Grade: PMG Gem UNC 65 EPQ

Lot #1089 - Large Size Type Notes > Silver Certificates - ($ 18,000.00 - $ 24,000.00)
Fr. 245 $2 1891
Design 65. Small red scalloped seal. William Windom was not a household name but this note has a beautiful design. The issue comes with two distinct looks of the same note with this being the strong image with the lipstick red seal, which is the earlier seal. The later seal is supposedly the same but not nearly as strong of a design. Bright, fresh paper, bold color, superb centering and beautiful overall. One of the top graded notes from the 303 notes currently known.
Grade: PMG Superb Gem UNC 67 EPQ

Lot #1090 - Large Size Type Notes > Silver Certificates - ($ 7,000.00 - $ 10,000.00)
Fr. 247 $2 1896
Design 66. The famous $2 Educational shows Science presenting Steam and Electricity to Commerce and Manufacture. What would today's allegorical design look like? This is a lovely Gem with excellent centering and great color. A very pretty Gem $2 Educational. Of the 944 notes currently known, this note is among the top 31 graded with just 16 better.
Grade: PMG Gem UNC 65 EPQ

Lot #1091 - Large Size Type Notes > Silver Certificates - ($ 2,000.00 - $ 3,000.00)
Fr. 251 $2 1899
Design 67. Blue scalloped seal. A lovely design with George Washington as the central vignette surrounded by the male and female allegorical figures. This series emcompasses 10 signature combinations and makes for a great set of designs. This example is lovely with excellent centering and color, but unlike the broad margined 1886 and 1891 issues, there was less paper left between the notes. A Gem note with great inking and paper quality as well. Of the 430 notes currently known this note this note is 1 of 14 notes graded.
Grade: PMG Gem UNC 66 EPQ

Lot #1092 - Large Size Type Notes > Silver Certificates - ($ 10,000.00 - $ 15,000.00)
Fr. 259 $5 1886
Design 68. Small red seal. This design type #68, that features Grant on the face and the silver dollars on the back, is undoubtedly the most well known and popular among coin collectors. This was a seven note series with the silver dollar back. The small red seal was first chosen for the 1886 Silvers. This note has the Rosecrans-Jordan signature combination. Amazing quality for the grade as I can't easily see any sign of circulation through the holder. I can see exceptional centering, bold color and solid corners. Truly an exceptional note for the grade, although not PPQ. This is a rare type and the grade is exceptional. This note is the second finest known of the 36 currently recorded.
Grade: PCGS Ch. Abt. New 58

Lot #1093 - Large Size Type Notes > Silver Certificates - ($ 14,000.00 - $ 20,000.00)
Fr. 261 $5 1886
Design 68. Large red spiked seal. This is the second seal for the rare and desirable silver dollar back with the large red (orange) spiked seal and the Rosecrans-Huston signatures. This seal is even more popular than the small red seal. The note has excellent centering, bold printing and beautiful white paper. Great quality but not PPQ. This note is the finest known of the 236 reported.
Grade: PCGS Very Ch. New 64 PPQ

Lot #1094 - Large Size Type Notes > Silver Certificates - ($ 14,000.00 - $ 18,000.00)
Fr. 263 $5 1886
Design 68. Large brown seal. This is my favorite variety of the silver dollar backs with the large brown seal and Rosecrans-Huston Treasury signatures. Fresh and well centered with excellent color and paper, but not called EPQ. This lovely note came from the Chet Krause Collection. An ultimately desirable type. There are currently 274 notes known with this being among the highest graded.
Grade: PMG Ch. UNC 64 EPQ

Lot #1095 - Large Size Type Notes > Silver Certificates - ($ 9,000.00 - $ 15,000.00)
Fr. 265 $5 1886
Design 68. Small red scalloped seal. Here is the rarest seal used on a silver dollar back note and it's coupled with the Rosecrans-Nebeker Treasury signatures. This is a rare variety and it looks much prettier than the grade indicates with the incredible color, centering and overall appearance. This note realized $11,000 when sold over a decade ago (2000). Of the 38 notes currently known this is the only one of this grade and with just 4 notes graded better.
Grade: PCGS XF 40

Lot #1096 - Large Size Type Notes > Silver Certificates - ($ 3,750.00 - $ 5,500.00)
Fr. 267 $5 1891
Design 69. Small red seal. This is the 1891 Series $5 Silver Certificate. It's design #69 but the back has completely changed as the silver dollar back has been replaced by the open back design. This seal is a bit lighter than the bolder silver dollar backs. A lovely note with bright white paper and bold printing. The margins are very nice and the 64 EPQ grade is a no brainer to me. If you want quality, here you have it! This note ranks among some of highest grades of the 352 recorded.
Grade: PMG Ch. UNC 64 EPQ

Lot #1097 - Large Size Type Notes > Silver Certificates - ($ 16,000.00 - $ 22,000.00)
Fr. 269 $5 1896
Design 70. Small red seal. The $5 Educational is by far one of the best U.S. paper money designs. While the outstanding allegorical vignette may have been "Banned In Boston", we think they are pretty cool in Kansas City. This is the Bruce-Roberts signature combination. The note is wonderfully centered with outstanding color and brilliant inking. A Gem in every sense of the word. Of the 539 notes currently known this note ranks in the upper 33 graded.
Grade: PMG Gem UNC 65 EPQ

Lot #1098 - Large Size Type Notes > Silver Certificates - ($ 6,000.00 - $ 9,000.00)
Fr. 271 $5 1899
Design 71. Blue scalloped seal. Everyone recognizes the Indian Chief note and virtually all collectors want one. This note is design #71 and there are 11 different signature combinations of this popular type to create a complete set. This is the earliest variety with signatures of Lyons-Roberts. This note is a very pleasing Gem UNC 66 EPQ with outstanding quality, bold inks and lovely white paper. A well centered, big margined Gem, both face and back. Excellent for the grade. There are currently 861 notes known, with this note among the top 22 graded.
Grade: PMG Gem UNC 66 EPQ

Lot #1099 - Large Size Type Notes > Silver Certificates - ($ 9,000.00 - $ 15,000.00)
Fr. 282 $5 1923
Design 72. Blue scalloped seal. Abe Lincoln is the central vignette, or tombstone, of the last of the large size $5 Silver Certificates. The quality of this Porthole note is very special, graded Gem UNC 66 EPQ. It has extraordinary color, bold printing and beautiful centering. One of 2 notes graded as such, of the 1,442 known, with just 7 graded better.
Grade: PMG Gem UNC 66 EPQ

Lot #1100 - Large Size Type Notes > Silver Certificates - ($ 4,500.00 - $ 6,000.00)
Fr. 282 $5 1923
Design 72. Blue scalloped seal. I find the strength of the image of Lincoln a powerful part of this overall note. This note is fresh and well centered with excellent color along with beautiful ink and printing quality. A real peach and a popular type with great color and centering. The census currently shows 1,442 notes known and this note ranks high in the grades, with just 8 graded better.
Grade: PMG Ch. UNC 64 EPQ

Lot #1101 - Large Size Type Notes > Silver Certificates - ($ 15,000.00 - $ 22,000.00)
Fr. 288 $10 1880
Design 73a. Large brown seal. The Silver Certificate Black Backs of 1880 are rare and desirable items that began with the $10 issue that is graced with the portrait of Robert Morris. This note has the large brown seal and brown Roman numeral "X" to indicate the denomination. The back has SILVER unmistakably marked across the back. This example is uncirculated and it's nicely centered for the grade. Vivid color and premium quality in every way. All other denominations are virtually impossible in UNC. Current census shows 73 notes known, with this being the only one graded "64" and just 2 in higher grades.
Grade: PCGS Very Ch. New 64 PPQ

Lot #1102 - Large Size Type Notes > Silver Certificates - ($ 30,000.00 - $ 45,000.00)
Fr. 290 $10 1880
Design 73c. Large red seal. This design is for the Black Backs of 1880. Here we have changed the face design by removing the Roman numeral and replacing the brown seal with a large red seal, similar to the 1880 $5 Legal Tender (Fr. 73) at a glance. I love the color and quality of this fresh first design. The note has much of the appearances of an UNC with nice margins, great color and centering but it does have two folds, a horizontal and a vertical. The quality is truly amazing and with a strong bid you could try to acquire it. Just last year a PMG 40 realized $37,375 at a Stack's sale (10/2/10). Current census indicates 43 notes known with only this one grading "45" and two better grades.
Grade: PCGS XF 45

Lot #1103 - Large Size Type Notes > Silver Certificates - ($ 5,000.00 - $ 8,000.00)
Fr. 292 $10 1886
Design 74. Small red seal. This design was adopted after Thomas A. Hendricks, the Vice President, died in office. With shape of the new face vignette has been referred to as the tombstone note. Here we are offering the second signature combination with the first seal and the ornate back design. The superior choice of notes is clear here, as the appearance is that of a Gem with three folds. Evidence of its beauty is seen here with the ultra-fresh, bright, white paper, small red seal and beautiful centering. Census records indicate 70 notes known, with this and just one other grading "50", tying it for second finest known, and only one in a higher grade.
Grade: PCGS XF 45 PPQ

Lot #1104 - Large Size Type Notes > Silver Certificates - ($ 5,000.00 - $ 8,000.00)
Fr. 294 $10 1886
Design 74. Large red seal. Only the seal has changed becoming a large red scalloped seal (being more orange in color than red) with the Rosecrans-Huston signature combination and the ornate back. An amazingly high quality example of this type that is rarely encountered in better condition. It is well centered with excellent quality and brilliant paper and printing. The current census of 74 known shows this to be the only one graded "50" and just one in a higher grade.
Grade: PMG Abt. UNC 50

Lot #1105 - Large Size Type Notes > Silver Certificates - ($ 7,500.00 - $ 12,500.00)
Fr. 295 $10 1886
Design 74. Large brown spiked seal. The very scarce brown seal color has replaced the large red, otherwise leaving the type unaltered, including the signatures of Rosecrans and Huston. The quality is quite lovely indeed as I cannot personally see the circulation through the holder. The paper appears crisp and white along with boldly printed blacks, blues and browns. The face centering looks like Choice quality as well. Current census shows 59 notes known.
Grade: PMG Abt. UNC 55

Lot #1106 - Large Size Type Notes > Silver Certificates - ($ 15,000.00 - $ 25,000.00)
Fr. 297 $10 1886
Design 74. Small red scalloped seal. This is the last issue with the ornate 1886 back design and it has the Rosecrans-Nebeker signatures. The seal has been changed once again, this time to a small red with scallops. In my opinion, this has always been the rarest of the run of seven different notes. A top quality note that has exquisite color and lovely centering along with broad margins. It's very bright, fresh and problem free. What makes this note AU will not be evident to most, including me. In other words, extra nice for the grade, as I keep saying. Just 14 notes are reported in the current census, with this being the second finest known.
Grade: PCGS Abt. New 53

Lot #1107 - Large Size Type Notes > Silver Certificates - ($ 2,750.00 - $ 3,750.00)
Fr. 301 $10 1891
Design 75a. Small red scalloped seal. The back has been totally redesigned to an open back, the date has changed to 1891 and the signatures are of Lyons and Roberts. A magnificent example of this issue that has been graded Ch. Abt. New 58 PPQ. I definitely cannot see why it's not a Gem but it's in a holder and the only thing I can see from here is that it's beauty. Fresh, bright, original, well centered and big margins. The note continues the pattern of quality in this collection. Of the 160 notes known this is only note graded 58 PPQ, with only two in higher grades, making this note the third finest known.
Grade: PCGS Ch. Abt. New 58 PPQ

Lot #1108 - Large Size Type Notes > Silver Certificates - ($ 5,000.00 - $ 7,500.00)
Fr. 304 $10 1908
Design 75. Blue scalloped seal. Here is the last of the Hendricks series. The date is 1908 and it has the small blue seal and blue "X" on the left, as well as the open back design. A pristine example with bright, white paper that is boldly printed, Parker-Burke signatures and nice margins. Current census indicates 201 notes known with 1 other of similar grade and 1 better.
Grade: PCGS Very Ch. New 64 PPQ

Lot #1109 - Large Size Type Notes > Silver Certificates - ($ 15,000.00 - $ 25,000.00)
Fr. 311 $20 1880
Design 76a. Large brown seal. The portrait of Stephan Decatur is on the right side of this Black Back $20 that has the large brown seal and Roman numeral 'XX' below and the word SILVER broadly spaced across the back. Utterly unmolested and with strictly original surfaces, this is a beautiful example of a very scarce type. It's bright and completely clean with exceptionally broad margins and paper quality that will blow you away. It's a truly stately piece, with sharp printing quality, all its original colors and no circulation soil. This piece is so beautiful I would not be surprised if it has been graded UNC sometime before grading was so exacting! The recurring theme here is quality for the grade. There are over a hundred Fr. 311s known, and only 5 are graded higher than this note. From the standpoint of eye appeal, this gorgeous piece ranks with the best of them.
Grade: PCGS XF 40 PPQ

Lot #1110 - Large Size Type Notes > Silver Certificates - ($ 18,000.00 - $ 24,000.00)
Fr. 312 $20 1880
Design 76b. Small red seal. This very important note, with the small red seal and without the double "XX" at the bottom, is a one-number type. Only 34 examples are known of this number, without a single piece in the Track & Price census listed as Uncirculated. This note has extraordinary margins, excellent color and not a hint of a defect or repair of any kind. It's a wonderfully natural piece which in itself is somewhat of a miracle for this type. The highest graded examples known are a PCGS AU 50 (which sold for $54,625), a PCGS 35, a PMG 30 and this PMG VF 25. This note appears to us as though it deserves to be in a "30" or "35" holder. This number is seldom available in any grade. And, PMG has graded only two Fr. 312s to date, with this solid VF 25 being the higher. If you buy this note sight unseen you could not be disappointed as I have seen many far inferior notes assigned the same grade. I just think this note has lots going for it, including paper quality, color, printing and visual presence. Once again, lots of quality.
Grade: PMG VF 25

Lot #1111 - Large Size Type Notes > Silver Certificates - ($ 8,500.00 - $ 12,500.00)
Fr. 314 $20 1886
Design 77a. Large brown seal. This is the middle seal variety for the ornate diamond back $20 Silver Certificate. It has the Rosecrans-Nebeker signature combination. This diamond back has always been this collector's favorite design. In my opinion, this is one of the least visual notes in the collection (something has to be). The overall appearance is decent for the grade and the centering is nice but there isn't a lot of pop. This note last appeared at Stack's in November 2006 where it brought $10,000. Current census indicates 70 notes known, with this being of 11 finest known, with 7 being better.
Grade: PMG VF 25

Lot #1112 - Large Size Type Notes > Silver Certificates - ($ 150,000.00 - $ 250,000.00)
Fr. 316 $20 1886
Design 77b. Small red seal. Our Memphis 2002 catalog description included the following description from a CAA sale in January 2001 (Lot 1565). That description read, "A newly discovered, uterly spectacular note with broad even margins, beautiful paper surfaces, ideal centering of both sides and the color, brightness, and eye appeal that it had the day it was made. We've sold only two Fr. 316s, both of which were low grade. The only uncirculated 1886 $20 that we've handled was a Gem New Fr. 315, which we sold in May 1999 for $93,500. Fr. 315 and Fr. 316 are equally rare, with just about 20 examples known of each. With the appearance of this piece, there are now two Uncirculated examples known for each of the numbers. When all 1886 twenties are combined (Fr. 313 through Fr. 316), only a half-dozen uncirculated pieces are known to exist. This note, in our opinion, is a hair finer than the Fr. 315 that set a record price a year ago May. It's certainly the finest Fr. 316 known to us and it is likely to reach or exceed the estimate." Current census reports 27 notes known with this note being the finest. There is another Uncirculated note listed in the census but it has not been seen for some time and the exact quality is not known. High quailty examples of this type, regardless of the seal color, have brought six-figures as far back as the late 1990s and today are considered classic rarities. They remain highly prized by both those who own them and those who want to own them!
Grade: PCGS Gem New 66 PPQ

Lot #1113 - Large Size Type Notes > Silver Certificates - ($ 25,000.00 - $ 35,000.00)
Fr. 321 $20 1891
Design 78b. Blue serial numbers and "XX". A beautiful type note with the Daniel Manning portrait at the center, the blue double XX Roman numeral at the left and the open back design. It also has the blue scalloped seal at the right and the open back design. This note was labeled "The Sky Room Collection" so it must have been christened as dinner was consumed at this Long Beach restaurant overlooking the area. The quality is spectacular with intense blues and blacks against a bright white background and near perfect centering. In October 2010 Stack's sold a PMG 66 for $32,200. The current census indicates 297 notes known with this being one of seven of this grade and none better.
Grade: PMG Gem UNC 66 EPQ

Lot #1114 - Large Size Type Notes > Silver Certificates - ($ 50,000.00 - $ 75,000.00)
Fr. 327 $50 1880
Design 79a. Large brown seal. This is an early example with the portrait of Edward Everett shown at the right, the large brown seal and Roman numeral "L" below, blue serial number and the ornate back. This is the second finest of six known examples of this excessively rare type outside of museums and government hands. The only reason I would say second finest known is that the other note was from the James A. Stack Collection and the grades were conservative on average. This note appeared in Stack's October 2001 sale and realized $25,300. While the James A. Stack piece sold for $27,500 in 1990. This Bruce-Wyman signature combination, with the large brown seal, is and has been very elusive. I have long considered this to be one of the rarest of all Silver Certificates but that is because there are so few of them that have ever appeared. I called this note XF in the Great Lakes Collection and PCGS later adjusted that grade a bit to VF 35. Regardless, this is a wonderful piece of paper money in every way.
Grade: PCGS VF 35

Lot #1115 - Large Size Type Notes > Silver Certificates - ($ 40,000.00 - $ 60,000.00)
Fr. 328 $50 1880
Design 79b. Large brown spiked seal. The brown "L" on the face has been removed for this new type with the large brown seal and Rosecrans-Huston signatures. This was the Friedberg plate note for many years. It was offered by Kagins in 1969, and nearly 30 years later by CAA. I would say that means this was most likely the part of the Kagin Reference Collection that was sold by CAA as the "fantastic collection" for many years. (Pure conjecture on my part, of course). This note is amazing with its bold color and lovely centering. Many would have called it AU. There are just 20 in private hands, with one better and it is the Gem in the Dave Rickey Collection that realized $287,500. A PMG 55 realized $126,500 in our June 2007 sale. If you must have the best then wait for it, but this is a beautiful, high grade, barely circulated note. Of the 26 notes currently known, this is the third finest.
Grade: PMG Ch. VF 35

Lot #1116 - Large Size Type Notes > Silver Certificates - ($ 65,000.00 - $ 90,000.00)
Fr. 329 $50 1880
Design 79c. Small red seal. The design was changed to a small red scalloped seal and it bears the Rosecrans-Nebeker Treasury signatures. The Black Back remains unchanged. This $50 is just outrageous and it's the lowest recorded serial number. It has superb color, jumbo margins and, above all else, outstanding eye appeal. This note has been unavailable since 1999 when sold by CAA. In June of 2007 we sold a PCGS 53 for $109,250 and in 2005 a VF 35 sold for $63,250. There is no doubt this note will be highly sought after. Just look at it! Why wait? This note will be nearly impossible to improve upon. Just 27 notes reported in the current census, with just one in a better grade than this example.
Grade: PCGS XF 45 PPQ

Lot #1117 - Large Size Type Notes > Silver Certificates - ($ 40,000.00 - $ 60,000.00)
Fr. 334 $50 1891
Design 80. Small red scalloped seal. A gorgeous example of this lovely $50 Silver Certificate that has the portrait of Edward Everett, the small red scalloped seal and the open back design. This jewel was previously part of the Great Lakes Collection. I have handled two cut sheets of this note, one from A. Bebee and the other from A. Carter, and all were gorgeous except for a single pinhole. That is probably the reason for no PPQ on this note. The quality of the printing and centering is amazing with bold, vivid blue, red and black colors. Near perfect white paper and centering. Of the 45 notes currently reported this is the finest known.
Grade: PCGS Gem New 66 PPQ

Lot #1118 - Large Size Type Notes > Silver Certificates - ($ 4,500.00 - $ 6,000.00)
Fr. 335 $50 1891
Design 80. Blue seal. This is the last iteration of the $50 Silver Certificate and Edward Everett's portrait featuring the open back design with blue seal and serial numbers. This is a splendid offering of a very attractive, circulated example with beautiful bold colors, white paper and lovely centering. All of those important parts to make a note desirable are here. This type is virtually impossible in strictly UNC. There are quite a number of these $50s in the census, but only a few are in very high grade. Many are graded similar to this one, which is a nice, fresh, original note. Current census indicates 169 notes known, 9 of which are this grade. From the Leon H. Bookman Collection.
Grade: PMG VF 25

Lot #1119 - Large Size Type Notes > Silver Certificates - ($ 27,500.00 - $ 35,000.00)
Fr. 340 $100 1880
Design 81a. Large brown seal. The only collectible $100 Silver Certificates with the brown seal and the "C" below are Fr. 339 and Fr. 340. There are two Fr. 339s and eight Fr. 340s in private hands, which makes them both rare and desirable. Most collectors satisfy themselves with the later issue without the "C" because notes are rarely offered more than once every few years. The last offering I can find was in January 2001 when CAA had an AU that sold for $44,000. This note brought $18,700 when sold in May 2000 by CAA. To me this note grades more like a VF 20 than F/VF, not that there is much of a difference. The color is great, the centering is excellent and it is easy to look at. From the Great Lakes Collection. PMG notes restoration. Of the 12 notes known in the current census there is one other of the same grade and just 2 better.
Grade: PMG Ch. Fine 15 Net

Lot #1120 - Large Size Type Notes > Silver Certificates - ($ 100,000.00 - $ 150,000.00)
Fr. 341 $100 1880
Design 81b. Large brown seal. The seal has changed size to a large and spiked, along with the Roman numeral "C" being removed. It remains clear that this note is one of the finest known. When sold in the Rickey sale it brought a reasonable $77,625. In September 2006 Heritage sold a PMG 64 at $253,000 and in June 2007 we sold a PMG 58 at $235,750. There was also a PMG 40 that brought $149,500 in September 2008. A rare and valuable note that is beautiful. CAA's September 2000 sale description read: "We sold this rare and beautiful piece to our consignor in our May 1997 sale, where it was described: 'Decidedly better than Extra Fine, this new piece to the census brings the total known for this number up to 23. Only one piece is listed as new, that being the former Wade-Bebee specimen now in the ANA museum. That piece and five others are in government or museum hands -- permanently removed from the marketplace. This note is a shade nicer than the example we sold in June of 1994 in our Memphis sale for $20,900. This magnificent piece has the appearance of a Gem New note, with perfect colors, broad, even margins and not a hint of a circulation-caused defect save for a single very light center fold. The margins are excellent all the way around, both face and back.' At that sale this note realized over $23,000. The current census indicates 24 notes known and just one better than this example.
Grade: PCGS XF 45

Lot #1121 - Large Size Type Notes > Silver Certificates - ($ 50,000.00 - $ 75,000.00)
Fr. 343 $100 1891
Design 82. Small red scalloped seal. Here we have the earlier of the two James Monroe $100 open back Silver Certificates of 1891. The look on the face did not change dramatically but the new open back design was a clear departure from the former 1880 Series and the masculine Black Backs I so often refer to. The quality of this note is wonderful and it's likely the second or third note known that was graded Fine, depending upon the exact grade of what may be the finest known. Bright white paper, bold black, red and green inking and outstanding centering make this note, not available since 1996, so desirable. Very few $100s were saved. Current census indicates 20 notes reported with this being the second finest known.
Grade: PCGS XF 45

Lot #1122 - Large Size Type Notes > Treasury Notes - ($ 3,500.00 - $ 5,000.00)
Fr. 347 $1 1890 #A210
Design 85. Large brown spiked seal. Edwin Stanton, Secretary of War under Lincoln, was the choice for this extremely popular series for collectors. This design features a portrait at the left, a large brown spiked seal at the right, red serial numbers and an Ornate Back. This example appears to be quite lovely with excellent bold colors, great paper quality and especially nice centering. Added to the allure is its low serial #A210. There are 387 notes currently known of this type and this note is one of three graded XF 45.
Grade: PMG Ch. XF 45

Lot #1123 - Large Size Type Notes > Treasury Notes - ($ 15,000.00 - $ 20,000.00)
Fr. 349 $1 1890
Design 85. Small red scalloped seal. This series changes quite rapidly. When the Secretary of the Treasury changed from J.N. Huston to E.H. Nebeker the seal changed to a small red scalloped variety but the beautiful Ornate Back remained. This particular note is of amazing quality, graded Gem UNC 66 EPQ. It has bold, fresh printing and superior margins all which enhances its overall beauty. Of the 176 notes currently reported, this note is tied for the finest known.
Grade: PMG Gem UNC 66 EPQ

Lot #1124 - Large Size Type Notes > Treasury Notes - ($ 1,500.00 - $ 2,500.00)
Fr. 350 $1 1891
Design 86. Small red scalloped seal. As the series changed from 1890 to 1891 so did the wonderful Ornate Back design, which changed to a more simplified open back. The signing officers, Rosecrans and Nebeker, remained the same. This is the earliest variety of the 1891 $1 Treasury Note. This note has exceptional quality and overall beauty. The black, red and green inks are wonderfully laid on the paper and the centering is truly special. Currently the census shows 407 notes known with this example being within the top grades.
Grade: PMG Gem UNC 65 EPQ

Lot #1125 - Large Size Type Notes > Treasury Notes - ($ 75,000.00 - $ 100,000.00)
Fr. 353 $2 1890 #A68
Design 87. Large brown spiked seal. The earliest type design and signature combination of Rosecrans-Huston with General McPherson at the right and the large brown spiked seal just to the righ tof center. The back has the ornate design work that remains so desirable. This note is equal to the finest known PMG 66 EPQ Gem UNC and it's the lowest serial number we can find offered. It last sold as part of the Peter Gamble Collection. The note has brilliant colors, exceptionally white paper and great centering, creating an important note.
Grade: PMG Gem UNC 66 EPQ

Lot #1126 - Large Size Type Notes > Treasury Notes - ($ 60,000.00 - $ 90,000.00)
Fr. 354 $2 1890
Design 87. Large brown spiked seal. Here is the Rosecrans-Nebeker signature combination with the large brown spiked seal and ornate back on a $2 1890 Treasury Note. The only change is the signatures. Current census indicates 39 survivors known and this appears to be absolutely the finest known at this time. Considering the overall color, paper quality and centering, it's quite likely it will not be surpassed. It's hard to determine how high up the price will rise with such a great note. No example above a low VF has sold since 2008 when a PCGS G-3 restored realized $57,500 in the Dover Collection.
Grade: PCGS Gem New 65 PPQ

Lot #1127 - Large Size Type Notes > Treasury Notes - ($ 4,000.00 - $ 6,000.00)
Fr. 357 $2 1891
Design 88. Small red scalloped seal. General McPherson graces the right side of this $2 bill that has the small red scalloped seal and the Tillman-Morgan signature combination. This is the 1891 Series with the open back design. This note is spectacular with outstanding paper quality and wonderful embossing. The reds, blacks and greens are bold and beautiful, along with centering that is easily Gem quality. The current census shows 475 notes known of this type with this note within the top grades.
Grade: PMG Gem UNC 65 EPQ

Lot #1128 - Large Size Type Notes > Treasury Notes - ($ 15,000.00 - $ 20,000.00)
Fr. 359 $5 1890
Design 89. Large brown spiked seal. Here we have the earliest of the three ornate back designs for the $5 Treasury Note with General Thomas at the center, flanked by the large brown spiked seal on the right and a red serial number on the left. The back is that of the popular ornate variety. This is the most desirable of all $5 Treasury Notes because it's so beautiful and there are some are available. Wonderful paper, lovely centering and a bold, masculine appearance to this highly regarded type. Current census indicates 127 notes known with this example being tied for finest known.
Grade: PCGS Gem New 65 PPQ

Lot #1129 - Large Size Type Notes > Treasury Notes - ($ 12,500.00 - $ 17,500.00)
Fr. 361 $5 1890
Design 89. Small red scalloped seal. The seal was changed from a large brown to a small red scallop but this is still on an 1890 issue with the ornate back design and Rosecrans-Nebeker signatures. It's been many decades since this type was available. This note is indeed a pristine example that has been graded Gem UNC 65 EPQ by PMG. The colors are boldly printed against a nearly pure white background and pristine paper quality. On top of that, the centering is excellent for the grade. It's a beauty. Current census shows 141 notes known with this being one of the 9 graded "65" and only 9 grading better.
Grade: PMG Gem UNC 65 EPQ

Lot #1130 - Large Size Type Notes > Treasury Notes - ($ 3,750.00 - $ 5,000.00)
Fr. 364 $5 1891
Design 90. Small red scalloped seal. General Thomas still graces this note but the back design has almost completely changed to the open back that was becoming popular as the Victorian era ended. Surprisingly, there are less than 20% more of this signature combination and variety than the Fr. 361, which has the ornate back. A top quality example that has all of the features associated with a Gem and it's been graded 65 EPQ by PMG. The current census indicates 165 notes known with this being one of 17 in this grade.
Grade: PMG Gem UNC 65 EPQ

Lot #1131 - Large Size Type Notes > Treasury Notes - ($ 25,000.00 - $ 35,000.00)
Fr. 367 $10 1890
Design 91. Large brown spiked seal. This is really a great sleeper for its rarity as the census only shows 20 serial numbers listed, and three of those appear permanently tied up in government collections. Most of the others are from a run of UNCs that this note fits into. I question how any of these could possibly be of better quality than the note we offer here as the condition is staggering it is so nice. Everything about this note is fresh and original. The paper is white and the colors fresh and bold. No doubt the new owner will be as pleased as my client has been to own and enjoy it for the last 20 years or so.
Grade: PCGS Gem New 66 PPQ

Lot #1132 - Large Size Type Notes > Treasury Notes - ($ 20,000.00 - $ 30,000.00)
Fr. 368 $10 1890
Design 91. Small red scalloped seal. General Sheridan was chosen to grace this lovely 1890 $10 Treasury Note as the central vignette. This note has the Rosecrans-Nebeker signatures, a small red scalloped seal and the ornate back design. Quality screams as you look at this gorgeous note that has excellent white paper, bold colors, fantastic centering and wonderful printing. A desirable type that is always in demand. A PMG 66 realized $21,850 a few months ago. Of the 143 notes currently known, this note is tied for finest known.
Grade: PCGS Gem New 66 PPQ

Lot #1133 - Large Size Type Notes > Treasury Notes - ($ 4,500.00 - $ 6,500.00)
Fr. 369 $10 1891
Design 92. Small red seal. The signatures remained the same but the back design was redone to the simpler open back style of 1891. this is a lovely example graded Ch. UNC 64, closed pinholes and there are clearly two near the bottom center. The centering is excellent for the grade and so is the paper quality. Of the 128 notes currently reported, this note ranks in the top 25 known.
Grade: PMG Ch. UNC 64 EPQ

Lot #1134 - Large Size Type Notes > Treasury Notes - ($ 4,500.00 - $ 7,500.00)
Fr. 370 $10 1891
Design 92. Small red scalloped seal. This is the later Tillman-Morgan signature combination with the small red scalloped seal and open back design of 1891. This is still a scarcer signature combination with 129 notes known. This is a PMG 65 before the EPQ was added. Now they won't grade a note '65' unless it's EPQ. This note has great bold colors laid on bright white paper and with complete originality.
Grade: PMG Gem UNC 65 EPQ

Lot #1135 - Large Size Type Notes > Treasury Notes - ($ 125,000.00 - $ 175,000.00)
Fr. 372 $20 1890 #A3
Design 93. Large brown spiked seal. This is the ornate back Treasury Note of 1890 that has the Rosecrans-Huston signatures and the large brown spiked seal. The portrait of John Marshall, Chief Justice of the Supreme Court from 1801 to 1835, graces the $20 Treasury Notes. He was the only person used in this series that was not involved in the Civil War. This is the lowest serial #A3 known to exist. In 2006 Heritage sold #A5, a PMG 67, at $115,000 while this note realized $92,000 in June 2007. This note has impecable quality with beautifully fresh paper, bold inks and wonderful centering for the grade. No doubt a note for serious collectors like the previous owners that includes Bluestone, B. Max Mehl and Schermerhorn. This magnificent note is first recorded from the Grinnell Sale on November 25, 1944, Lot 216 at $60. From there it went to Robert Schermerhorn, Herman Halpern and through CAA in 2001. There were 488,000 notes printed, and 59 serial numbers recorded. Only five UNCs, with this seal and type are shown in the Gengerke census, and I will promise it is a rare occasion to find one. Eight of the 59 pieces recorded are permanently impounded. The quality of this note is spectacular with exceptional color, lovely centering and complete originality of the paper.
Grade: PMG Gem UNC 65 EPQ

Lot #1136 - Large Size Type Notes > Treasury Notes - ($ 25,000.00 - $ 30,000.00)
Fr. 372 $20 1890
Design 93. Large brown seal. This is the ornate back 1890 $20 Treasury Note with the Rosecrans-Huston signatures and the popular large brown spiked seal. John Marshall's portrait graces the face of the note. This $20 with the ornate back was used by Friedberg for some time to represent the type. This note was last offered by Stack's in the 1963 George Walton Collection where it realized a whopping $650 (a lot back then). Quality comes to mind when looking at this wonderful piece of paper with its excellent centering and paper quality along with bold colors. There are 62 examples in the census and last year a PCGS 45 realized $37,375 at Stack's. This note was part of the Great Lakes Collection that sold in 2005.

Lot #1137 - Large Size Type Notes > Treasury Notes - ($ 25,000.00 - $ 35,000.00)
Fr. 374 $20 1890
Design 93. Small red seal. This note first appeared from the Amon Carter Collection that was offered by us in 1983 and 1984. Later it sold in an HCAA sale (Lot 2777) in January 2002 for $14,950. Recently a high grade example brought nearly double that. This is a beautiful, bright, attractive ornate back Treasury $20 that falls in the middle of the run, which also included the Grinnell note, that brought the ability to acquire an UNC note to the last three generations of collectors. This run of notes appears to include serial #A1201550 to A1201575, yet nine of the in-between numbers have never shown up. This note has good paper quality, great colors and is original. Although the bottom margin could be just a bit wider. From the Prestige Collection.
Grade: PMG Ch. UNC 64 EPQ

Lot #1138 - Large Size Type Notes > Treasury Notes - ($ 16,000.00 - $ 22,000.00)
Fr. 375 $20 1891 #B32
Design 94. Small red scalloped seal. This is the first public offering of this amazing example of the open back $20 Coin Note, with the Tillman-Morgan signatures. This note has serial #B32 and is totally fresh and original, with extraordinary color and impeccable paper quality. Until around 1990, this Friedberg number never appeared uncirculated, and the great early collections were relegated to filing the Friedberg number with a used note.
Grade: PCGS Very Ch. New 64 PPQ

Lot #1139 - Large Size Type Notes > Treasury Notes - ($ 100,000.00 - $ 150,000.00)
Fr. 377 $100 1890
Design 96. Large brown seal. This Watermelon note is the 1890 $100 Treasury Note with the portrait of Adam Farragut at the right, the large brown spiked seal in the center, red serial numbers and the ornate back, where the numeral 100 appears like watermelons. One of our most desirable Type Notes and irtually every collector of Large Size Type Notes desires this type. Here we are offering a lovely PMG VF 25 that shows even circulation, excellent centering, good color and paper quality. There has not been a Watermelon offered since 2008 when a PMG 45 realized $184,000. In 2007 a PCGS 45 brought $253,000 and again in 2007 a PMG VF 30 realized $143,750 at a Heritage sale. We do expect collectors will be following this exciting lot closely. Only 35 notes are currently known.
Grade: PMG VF 25

Lot #1140 - Large Size Type Notes > Treasury Notes - ($ 125,000.00 - $ 150,000.00)
Fr. 378 $100 1891
Design 97. Small red scalloped seal. After the Ornate Back issue of 1890 (Watermelon note) they changed the seal from a spiked brown to a small red scalloped and removed the ornate back for an open back design. This note sold in our sale of the Frank Levitan collection in December 1998 where it was described as follows: "The open back $100 Coin Note is far rarer than either the Seward $50 or the Watermelon $100, but has probably received less attention over the years as it is much rarer and less often offered. Before 1990, only three appearances have been recorded. This should not be surprising as in the current Gengerke listing only 11 serial numbers have been recorded. Of those, only seven are currently in collector's hands. There is a story about this type. Several of these were found pinned into the coat of a drifter, and all except one had evidence of being burned. This further diminished the good notes known to exist. I acquired two in the Iowa deal in 1994. That VF note was sold in 1995 for $33,000." This note is a solid Fine 15 Net by PMG, who noted restoration, but I can't find any, even in this lighting. There is some ink bleed along the bottom that may be what is referred to. The last sale we had was in March 2010 when a VF 20 Net realized $126,500. That note had the corner restored, this one does not.
Grade: PMG Ch. Fine 15 Net

Lot #1141 - Large Size Type Notes > Federal Reserve Bank Notes - ($ 1,000.00 - $ 1,500.00)
Fr. 712 $1 1918 New York
Design 127. Blue scalloped seal. The vignette of George Washington is at the left with the Federal Reserve Bank name in the center and a blue scalloped seal at the right. The back features a central vignette of an eagle with a flag. These were issued by all 12 Federal Reserve Banks. Here we have a fresh, well centered Gem with lovely white paper and boldly printed blue, black and green inks. The centering is appropriate for this EPQ note. The census shows 923 notes known, with this one ranking well into the upper grades.
Grade: PMG Gem UNC 65 EPQ

Lot #1142 - Large Size Type Notes > Federal Reserve Bank Notes - ($ 3,000.00 - $ 4,000.00)
Fr. 765 $2 1918 Chicago
Design 128. Blue scalloped seal. Consistent designs were never the standard for an entire series before the Federal Reserve system. This Battleship is truly a beauty with excellent paper quality, pristine white paper, complete originality and wonderful centering. All this to please those that want to possess the best, or as close as it gets. Current census indicates 140 notes known, with this note tied for finest known.
Grade: PMG Gem UNC 66 EPQ

Lot #1143 - Large Size Type Notes > Federal Reserve Bank Notes - ($ 2,000.00 - $ 3,000.00)
Fr. 765 $2 1918 Chicago
Design 128. Blue scalloped seal. The $2 FRBN features Thomas Jefferson's portrait as the vignette at the left and the balance of the face plate design is consistent with the series. The back features a battleship of the period. A lovely Chicago Battleship note with excellent overall quality and paper. The centering only allows for a '64' grade on this popular design. One of 140 notes known.
Grade: PMG Ch. UNC 64 EPQ

Lot #1144 - Large Size Type Notes > Federal Reserve Bank Notes - ($ 2,000.00 - $ 3,000.00)
Fr. 785 $5 1918 Cleveland
Design 129. Blue scalloped seal. Lincoln's popular image is on the left face of this $5 FRBN, with the back design portraying a painting with images of Columbus sighting land on the right and Pilgrims landing in America on the left. While this is the most available of the $5 FRBNs, it is not common to locate these any better than this example, with excellent, bold imaging, white paper and originality all the way. Spectacular centering is very important as well. This note, of the 255 known, is 1 of 4 graded Gem New 66 PPQ, with just four others better.
Grade: PCGS Gem New 66 PPQ

Lot #1145 - Large Size Type Notes > Federal Reserve Bank Notes - ($ 10,000.00 - $ 15,000.00)
Fr. 817 $10 1915 Kansas City
Design 130. Blue scalloped seal. This $10 issue shows a Series of 1915 date, rather than 1918 that is used on all $1s and $2s and is varied on other denominations. Andrew Jackson is featured on the left and the back shows farmers harvesting wheat, along with a railroad and manufacturing. This note has signatures of the Governor & Acting Secretary. It's a lovely Gem with excellent color. Fully original and fresh in every way. Current census shows 100 notes known with this being 1 of 4 in this grade.
Grade: PMG Gem UNC 65 EPQ

Lot #1146 - Large Size Type Notes > Federal Reserve Bank Notes - ($ 6,000.00 - $ 9,000.00)
Fr. 828 $20 1915 Dallas #K4880A
Design 131. Blue scalloped seal. Grover Cleveland's portrait is represented on the $20 FRBN. The back design features a locomotive and airplane at the left and a steamship and tugboat near the Statue of Liberty at the right. This is a beautiful and rare note from a rare series. It has bright white paper, along with exceptional color, paper quality and printing. There are only 33 serial numbers reported and this is a beautiful example.
Grade: PCGS XF 40

Lot #1147 - Large Size Type Notes > Federal Reserve Notes - ($ 2,000.00 - $ 2,500.00)
Fr. 833b $5 1914RS New York
Design 133. Small red scalloped seal. This note is still a Red Seal and the only change is to the New York district. There are less generous margins as compared to the Superb Gem New 67 PPQ listed here. Of the 220 notes currently known this example is among the top 14.
Grade: PMG Ch. UNC 64 EPQ

Lot #1148 - Large Size Type Notes > Federal Reserve Notes - ($ 6,500.00 - $ 8,000.00)
Fr. 838b $5 1914RS Chicago
Design 133. Small red scalloped seal. The early FRNs had red seals and serial numbers with the back design the same as the FRBNs of the same denomination. This gorgeous Red Seal exudes the qualities of a superb note in every way. The red seal and serial numbers stand out against the white ground and black ink. Extremely beautiful, generous margins make this beauty even better. The finest note known of the 156 notes reported.
Grade: PCGS Superb Gem New 67 PPQ

Lot #1149 - Large Size Type Notes > Federal Reserve Notes - ($ 450.00 - $ 600.00)
Fr. 851a $5 1914BS New York
Design 133. Small blue scalloped seal. They say that problems with the aquisition of the red ink may have changed the seal color but I've always thought it was the issue with bleed-through on the paper that led to the change. This New York Blue Seal is a lovely Gem 65 EPQ that has decent centering for the grade. This note is among the highest graded of the 1,040 notes known.
Grade: PMG Gem UNC 65 EPQ

Lot #1150 - Large Size Type Notes > Federal Reserve Notes - ($ 300.00 - $ 400.00)
Fr. 911b $10 1914BS New York
Design 134. Small blue scalloped seal. This Andrew Jackson $10 has the three smaller and one large district letters, along with the White-Mellon signatures and blue scalloped seal. A totally fresh, original, bright, fresh note with decent centering, lovely inking and beautiful paper quality. This note ranks among the top 14, of the 236 notes currently reported.
Grade: PCGS Very Ch. New 64 PPQ

Lot #1151 - Large Size Type Notes > Federal Reserve Notes - ($ 12,500.00 - $ 20,000.00)
Fr. 953b $20 1914RS New York
Design 135. Small red scalloped seal. The earliest of the FRNs had the red seal and Grover Cleveland image at the center. This is a 'b' variety for the Red Seal. It will be a rare occasion to find a better example of this scarce and highly collectible type. This note, from the Old North Church Collection, is boldly printed on bright white paper and is beautifully framed by the extraordinary margins. Only 20 examples are reported and in 2001 one realized $13,800.
Grade: PMG Gem UNC 66 EPQ

Lot #1152 - Large Size Type Notes > Federal Reserve Notes - ($ 2,000.00 - $ 3,000.00)
Fr. 953b $20 1914RS New York
Design 135. Small red scalloped seal. A second example of the same variety as the higher grade listed here. In October 2000 I called this note a Gem, now it's listed as AU 55 by PMG. I am confident that it's a lovely note for the grade and should get plenty of interest for those unwilling to spend over $10,000 to get the '66' listed here. The color and centering are lovely. Of the 100 notes known, this example ranks in the upper 20 of the highest grades.
Grade: PMG Abt. UNC 55

Lot #1153 - Large Size Type Notes > Federal Reserve Notes - ($ 500.00 - $ 800.00)
Fr. 1002 $20 1914BS Kansas City
Design 135. Small blue scalloped seal. An attractive layout with Grover Cleveland's portrait at the center and the blue scalloped seal. Transportation vignettes adorn the back of this issue. This example has excellent paper quality and originality with decent centering, sharp white paper and bold printing. Of the 147 notes currently reported, this piece is the third finest known.
Grade: PCGS Ch. New 63 PPQ

Lot #1154 - Large Size Type Notes > Federal Reserve Notes - ($ 2,750.00 - $ 3,500.00)
Fr. 1035 $50 1914BS Philadelphia
Design 136. Blue scalloped seal. Ulysses S. Grant adorns the 1914 $50 FRN along with a small blue scalloped seal at the right. The back has a vignette labeled Panama with ships at either side. I don't think I knew this design was commemorating the building of the Panama Canal. The quality of this note is, without question, quite special with bold printing against the bright white paper and exceptional centering. This note ranks among the top 4 of the 224 notes currently known.
Grade: PMG Gem UNC 65 EPQ

Lot #1155 - Large Size Type Notes > Federal Reserve Notes - ($ 30,000.00 - $ 40,000.00)
Fr. 1072a $100 1914RS Boston
Design 137. Small red scalloped seal. This is the early red seal on the $100 FRN from 1914. It features Benjamin Franklin's portrait in the center and a red scalloped seal at the right, along with red serial numbers. The back is a lovely allegorical group of five figures. Here is a gorgeous example of the rarely seen $100 Red Seal FRN. This type is normally only seen from this district because of a hoard of 18 notes that surfaced a couple of decades ago, probably from an old banking family. This note is a beauty that has excellent embossing in the middle area. Very attractive with excellent white paper, beautiful red, black and green printing and very nicely centered as well. This district shows 23 notes known and 5 are not UNC. Records indicate a Ch. New 64 by PMG and PCGS lists two 65 PPQ, one 66 PPQ and one 67 PPQ.
Grade: PMG Ch. UNC 64 EPQ

Lot #1156 - Large Size Type Notes > Federal Reserve Notes - ($ 2,500.00 - $ 3,500.00)
Fr. 1104 $100 1914BS Atlanta
Design 137. Small blue scalloped seal. The seal color was switched to blue, as were the serial numbers, on this lovely hoard note from the 1960s which is when I began dealing. At that time these were available at a retail price of $125. This is a lovely, high quality, beautiful Type Note. Excellent white paper, beautiful centering and great color overall. A higher grade of the 224 notes currently known.
Grade: PMG Ch. UNC 64 EPQ

Lot #1157 - Large Size Type Notes > Federal Reserve Notes - ($ 17,500.00 - $ 25,000.00)
Fr. 1132-J $500 1918 Kansas City
Design 138. Blue scalloped seal. The $500 of this series has the signatures of John Burke and Carter Glass, with the central vignette being the portrait of John Marshall. The back design shows DeSoto discovering the Mississippi River. This $500 is evenly circulated with good color, decent centering and unmolested paper quality. The census indicates 13 notes reported and this one ranks fourth finest known.
Grade: PMG VF 25

Lot #1158 - Large Size Type Notes > Federal Reserve Notes - ($ 45,000.00 - $ 60,000.00)
Fr. 1133 $1,000 1918 Philadelphia
Design 139. Blue seal. Alexander Hamilton, the father of our financial system, was chosen to grace this $1,000 FRN. It bears a blue scalloped seal with the majestic eagle in the center of the back. We sold this note, when it was graded CGA 67, in June 2006 at $74,750, in June 2000 as a CGA 65 EPQ at $49,500 and in November 1999 at $68,200. Now it's graded AU. I remember these prior to grading and they all (4) looked wonderful to me. This note did not appear with the rest of the run in 1989. It appeared 10 years earlier as part of the Brookdale sale by NASCA that was one of the greatest sales of the time. The note has beautiful color and centering, along with lovely white paper. It's sure to get a lot of interest. Tied for finest known of the 13 currently reported.
Grade: PCGS Ch. Abt. New 58

Lot #1159 - Large Size Type Notes > Gold Certificates - ($ 1,400.00 - $ 1,800.00)
Fr. 1173 $10 1922
Design 147. Small gold scalloped seal. Michael Hillegas was the first Treasurer of the United States and his portrait is the central vignette on this note. The bottom has no central concept but does have the U.S. seal along the bottom of the design. This beauty is quite lovely with the gold printing, both face and back, along with the gold seal. A beautiful, high grade example of the type.
Grade: PMG Ch. UNC 64 EPQ

Lot #1160 - Large Size Type Notes > Gold Certificates - ($ 1,400.00 - $ 1,800.00)
Fr. 1173a $10 1922
Design 147. Small gold scalloped seal. This is the Fr. 1173a designated by the small serial numbers. It carries the 1922 date as well. This was the only design used for the $10 Gold Certificates. This example has lovely paper quality and bright, vivid colors, including the gold seal on the right, the Roman numeral 'X' on the left and the star burst design on back. Excellent centering as well. Certainly a beautiful note for the grade. This note ranks among the top 5 notes graded of the current 262 known.
Grade: PMG Ch. UNC 64 EPQ

Lot #1161 - Large Size Type Notes > Gold Certificates - ($ 25,000.00 - $ 35,000.00)
Fr. 1176 $20 1882
Design 148. This note has the small brown scalloped seal and James Garfield's portrait at the right. The signatures of Bruce-Wyman are there but the countersignatures were no longer used. The gold overprint and back are basically unchanged. This example is absolutely high-end. It was offered by me in 2002, graded Ch. AU, and today I'm amazed by its current grade of VF 35 by PMG. This note has a centerfold, a corner fold and some bends, but the paper is unmolested, the centering is wonderful, as are the black, brown and gold colors. In 2006 I sold a '40' for $50,600 and in 2009 a PMG 40 was a giveaway at $7,475. This is a tough note for many reasons and will be a great addition to any collection. It ranks in the top 4 graded of the 24 notes currently known.
Grade: PMG Ch. Very Fine 35

Lot #1162 - Large Size Type Notes > Gold Certificates - ($ 20,000.00 - $ 30,000.00)
Fr. 1177 $20 1882
Design 148. Large brown spiked seal. This note has the large brown spiked seal with Rosecrans-Huston signatures and blue serial numbers. There are just 32 notes reported in the census, including permanent collections. According to Track & Price this seems to be the fourth finest known. This note is lovely with excellent paper quality that is nice and white, and the ink appears to be as fresh as the day it was printed. The centering of this example is wonderful as well. A note that should certainly suit you.
Grade: PMG Ch. XF 45

Lot #1163 - Large Size Type Notes > Gold Certificates - ($ 7,500.00 - $ 12,500.00)
Fr. 1178 $20 1882
Design 148. Small red seal. This is the 1882 Department Series Gold Certificate that has James A. Garfield's portrait at the right and the small red scalloped seal. Gold printing under the blue serial numbers and under the central writing on the note. The back is all gold with the central vignette of an eagle on a branch. A lovely note with beautiful centering. This was graded Apparent Gem New 65 due to a repair to the right of the portrait on the face. It's a lovely note in every way, except for the repair. Of the 639 notes currently known, this note ranks in the top eight.
Grade: PCGS Apparent Gem New 65

Lot #1164 - Large Size Type Notes > Gold Certificates - ($ 32,500.00 - $ 45,000.00)
Fr. 1180 $20 1905
Design 149. Small red scalloped seal. This is the famous Technicolor $20 from 1905. It features the central vignette of George Washington and the red scalloped seal at the right. It has red serial numbers along with an underlying yellow/gold wash over, creating the Technicolor appearance. The back features the Treasury eagle in a circle. This is one of America's favorite notes. A beautiful, problem-free example that has stupendous colors along with wonderful centering and paper. Of the 227 notes currently reported, this note ranks in the top eight.
Grade: PCGS Very Ch. New 64

Lot #1165 - Large Size Type Notes > Gold Certificates - ($ 4,000.00 - $ 6,000.00)
Fr. 1187 $20 1922 Mule
Design 149. Small gold scalloped seal. I guess the Technicolor was too pretty so they removed the red seal and replaced it with a gold scalloped one and added the "XX" Roman numeral on the left. The back design was basically unchanged. This note is a gorgeous Gem in every respect with huge margins, extraordinary color and amazing paper quality. Really a special example. This note is graded among the top six known.
Grade: PCGS Gem New 66 PPQ

Lot #1166 - Large Size Type Notes > Gold Certificates - ($ 800.00 - $ 1,200.00)
Fr. 1187 $20 1922
Design 149. Small gold scalloped seal. This was the note that became a duplicate when it was time to upgrade. It has the appearance and quality of a new note with excellent paper quality but possibly a minute corner bend. Excellent quality for the grade.
Grade: PMG Ch. Abt. UNC 58 EPQ

Lot #1167 - Large Size Type Notes > Gold Certificates - ($ 30,000.00 - $ 40,000.00)
Fr. 1188 $50 1882
Design 150. Brown seal. This note features an image of Silas Wright on the left, a small brown scalloped seal in the center, a gold imprint under the serial numbers and the central writing on the face. This is the finest of the seven notes currently known. It has excellent color, paper quality, centering and overall appearance. This note realized $44,000 in our 2000 sale but when offered in 2003 it realized $27,400. All are very reasonable compared to the rarity. Just five notes have been offered in the last 20 years.
Grade: PCGS VF 30

Lot #1168 - Large Size Type Notes > Gold Certificates - ($ 30,000.00 - $ 50,000.00)
Fr. 1192 $50 1882
Design 150. Large brown seal. This 1882 $50 Gold Certificate has the signatures of Rosecrans and Huston. It is a lovely, evenly circulated note that is well centered, with great color and problem free. The new larger seal design also has blue serial numbers with the later, more traditional type font. Notes from this series are few and far between as there are only 12 collectible examples, and only two are definitely higher grade than this unmolested example. In December 2000 I sold a Ch. XF at $30,000 and CAA sold an XF in 1998 at $44,000. A PCGS 30 realized $32,200 in 2010, after realizing $43,125 a year earlier, and a PMG 25 realized $69,000 in January 2008. I have not seen any available for some time now. This note has had impressive results and there are only 20 notes reported.
Grade: PMG VF 25

Lot #1169 - Large Size Type Notes > Gold Certificates - ($ 12,500.00 - $ 25,000.00)
Fr. 1193 $50 1882
Design 150. Small red seal. A beautiful $50 1882 Gold Certificate, the first of the ones that are supposed to have small red seals. This note is fabulous with huge margins and explosive colors. This note came from a May 1996 CAA sale where it realized $4,675. In September 2008 Heritage sold a PMG 58 at $27,600 and another AU brought around $12,500 in 2006. While some grading services might try to pin on a grade of XF, that would never show the absolute power and beauty of this note. From the Great Lakes Collection.
Grade: PMG Abt. UNC 50

Lot #1170 - Large Size Type Notes > Gold Certificates - ($ 8,000.00 - $ 12,000.00)
Fr. 1196 $50 1882
Design 150. Small red seal. A rare signature combination, with only 20 serial numbers recorded in private hands. Only one other example known could possibly be better than this bright, fresh, well-centered, original note that has the overall appearance of an UNC, but several folds. The current census shows 29 shows notes known with this being one of the highest graded.
Grade: PCGS XF 45

Lot #1171 - Large Size Type Notes > Gold Certificates - ($ 10,000.00 - $ 20,000.00)
Fr. 1199 $50 1913
Design 151. Gold scalloped seal. This 1913 $50 Gold has received the coveted "Exceptional Paper Quality," designation from PMG. The note is photographed, both sides, on page 342 of the Dauers' massive 2003 work 'American History as Seen Through Currency'. This 1913 Series was the first $50 to carry the portrait of U.S. Grant, a portrait that, with only minor changes, is still in use on today's $50s. Although over 130 examples of this Friedberg number are known, fewer than 10% of them are listed as fully Uncirculated pieces. This note is new to the census, and it falls right between two other Uncirculated examples, one of which we sold in May of 1999 for over $8,000. This note, with its brilliant colors, obvious paper originality and the PMG 64 EPQ grade, should far eclipse that number. From The Dr. Edward and Joanne Dauer Collection.
Grade: PMG Ch. UNC 64 EPQ

Lot #1172 - Large Size Type Notes > Gold Certificates - ($ 8,000.00 - $ 12,000.00)
Fr. 1200 $50 1922
Design 151. Small gold scalloped seal. There were slight design changes from the 1913 to the 1922 issues, mainly the serial number size and printing over the gold fifty on the left. This is a very attractive example that has been graded Ch. UNC 64 EPQ. Fresh and original with excellent color but less than Gem centering. A lovely note for the grade. Of the 968 notes currently reported, this ranks in the top 9 known and graded.
Grade: PMG Ch. UNC 64 EPQ

Lot #1173 - Large Size Type Notes > Gold Certificates - ($ 80,000.00 - $ 150,000.00)
Fr. 1205 $100 1882
Design 152. Large brown seal. One cannot collect without the opportunity to purchase, and in the case of the brown seal $100 Gold notes that can definitely be a problem or an opportunity, as you choose to view it. The census shows seven notes reported, but three of those belong to the government in various forms and are highly unlikely to be relinquished to collectors. So collectors are left to attempt to acquire one of the four remaining examples. By the way, this note is the finest known of all seven; not even the government has a better one. As far as $100 brown seals are concerned, there is one Fr. 1202, one Fr. 1202a, three Fr. 1201, one Fr. 1203 and four Fr. 1205. A total of 10 pieces with three different varieties and five with different combinations which leads to one very pretty note. This note came from the Bass Foundation sale in 1999 where it realized $43,700. Only the Fr. 1202a countersigned note is a higher grade. The brown seal makes this even more important when you consider that Gold Certificates were turned in or confiscated on top of being redeemed. The likelihood of additional appearances are about the same as me landing a great white shark in the Missouri River. This is now the finest known, or so it appears, of just eight known, including those in permanent collections. In 2007 we set the high watermark for a PMG VF 25 at $132,250 and a year later Heritage sold a VF 25 for $120,750.
Grade: PMG VF 30

Lot #1174 - Large Size Type Notes > Gold Certificates - ($ 18,000.00 - $ 25,000.00)
Fr. 1215 $100 1922
Design 152. A small red scalloped seal with the Thomas Benton portrait at the left and a central gold overprint. This note would be very hard to find better. Excellent centering, brilliant color and wonderful paper quality. No doubt the new owner will be ecstatic. This Speelman-White Gold Certificate of 1922 is absolutely stunning. It's only appearance at auction was in a 1996 Smythe sale where it was acquired for the Great Lakes Collection. Ranked in the top 11 of the 779 notes currently known.
Grade: PMG Gem UNC 65 EPQ

Lot #1175 - Large Size Type Notes > Gold Certificates - ($ 30,000.00 - $ 50,000.00)
Fr. 1216 $500 1882
Design 153. Small red seal. Only about two dozen examples of this number are known, with only three at this grade level or better. The note gives the appearance of a full AU when viewed from the broadly margined face. The back shows a few more hints of circulation, but it has retained its bright orange color and is almost totally free of soil. High grade $5 Golds always cause a stir at auction and this one should be hotly persued. A PMG VF 35 realized $40,250 in 2008 while a similar note realized $23,000 when we sold it in 2005. The finest known are listed as '40' but no TPG. These are rare to find this nice, and it appears nearly impossible in higher grades. Of the 26 notes currently known, this note is tied for second finest with just one note known graded better.
Grade: PMG Ch. VF 35

Lot #1176 - Large Size Type Notes > Gold Certificates - ($ 75,000.00 - $ 125,000.00)
Fr. 1217 $500 1922
Design 153. Small red seal. This beautiful $500 Gold Certificate features the portrait of Lincoln on the left and the small red scalloped seal. The back design is of a Roman numeral 'D' for $500 with an eagle to its right. This wonderful $500 Gold Certificate is an old friend which CAA had sold before as part of the Cookson Collection of Gold Certificates and which we sold in January of 1999. It was offered there as a Choice About New with the following description: "This absolutely magnificent $500 Gold is the finest example of this type that we have ever seen. It lays considerable claim to the grade of Gem New. There are two parallel folds near the left end of the face clearly caused during production of the note. The outermost of the two folds is a printed gutter fold (no white area in the ink) that caused a tiny butterfly corner in the left margin of the note when it unfolded after the note was cut. The second fold, about 3/4" into the note, is precisely parallel to the first and clearly production-caused. Minus this minor error, the note is flawless. It's incredibly bright in both its inks and paper, and the surfaces are impeccably original with the full embossing effect clearly evident. About 40 pieces are known in total, with no uncirculated notes reported. There are five AUs: this note, the Grinnell note which has not been seen since 1945, the Jim Thompson note, one in government hands and an example which we sold in January of 1997 which realized $18,700. We fully expect this incredible example to do far better." Now, more than a decade later not much has changed. The census of "about 40" has gone up to 52, but there are still no Uncirculated examples known. And the five best then are still the five best now. Two big changes have occurred. First, the value which has way more than doubled. Ten and a half years ago this note realized $26,400 on an estimate of 25,000-up. Tonight, it will likely sell for about triple that. The second change is that the note is now encased in a sealed holder, either to protect it from collectors or to protect collectors from the note, this cataloger forgets which it is, but can't think of any other logical reason. Someone has written "Exceptional Paper Quality" and "Great Margins & Color" on a slip of paper that is also in the sealed holder and they certainly are right. In any event, this is still right at the top of the census with just one serious challenger."
Grade: PMG Abt. UNC 55 EPQ

Lot #1177 - Large Size Type Notes > Gold Certificates - ($ 250,000.00 - $ 300,000.00)
Fr. 1219e $1,000 1907
Design 154a. Small gold scalloped seal. The $1,000 Gold Certificates of 1907 are available in several signature combinations. This is the Tehee-Burke signature combination with the portrait of Alexander Hamilton, the gold scalloped seal at the right and '$1000' at the left. The back is gold with the government seal in the center. There are 43 serial numbers listed for this signature combination and barely a dozen of all others. This note realized $184,000 in our sale in June 2007, a PMG 58 brought $103,500 in September 2006 and a PMG 55 realized $66,125 last year. Today we should expect more as there has not been even a medium quality note available since. The census indicates PMG has graded two '64s', there is a '63' and two that are supposed to be UNC, but it shows no grading service history. That says to me this is possibly the finest known or very, very close. Only a single note is TPG graded higher. This note will excite you by just seeing it as it's so beautiful. The $1,000 issue of 1907 has always been elusive in the highest grades. Let's face it, who, during the first quarter of the 20th Century, could afford to use these? A few years later the Depression hit and these were redeemed and withdrawn from circulation, bringing us mostly to foreign banks as a source for notes to appear. This note has excellent centering and beautiful color, but lacks the EPQ designation, yet I can see embossing even through the holder. If you love high denominations and the best available, then here you go. Expect strong interest in this beauty!
Grade: PMG Ch. UNC 64 EPQ

Lot #1178 - Large Size Type Notes > Gold Certificates - ($ 100,000.00 - $ 150,000.00)
Fr. 1220 $1,000 1922
Design 154a. Gold seal. This design changed little with only the wording added under the $1,000 at the left. A gorgeous $1,000 Gold Certificate, with beautifully bright color, excellent margins and tons of eye appeal. We last sold this note in January of 1992, and it has resided in the Dauers' Collection since that time. Our 1992 grade was the same Ch. XF as PMG has currently assigned. Our previous description read, "Appearing Choice Uncirculated at a glance, particularly so from the face, this new number to the census brings the total known up to 21, only five of which are near this grade or better. Well margined and perfectly centered on both sides, this gorgeous$1,000 Gold would be one of the highlights of any collection it entered." While the census figures have gone up in the past 14 years, the proportions still hold, and this note is now in the top seven or eight known. It's a strikingly handsome piece that any collector would be proud to own and display. Photographed on page 348 of the Dauer book. From The Dr. Edward and Joanne Dauer Collection, sold in 2006, where this note brought $63,250. More recently, in June 2007, I sold a PMG 55 at $92,000 and a PMG 40 brought $80,500 in our March 2010 sale. This note could easily surpass $100,000 this time.
Grade: PMG Ch. XF 45